On this episode of Stock Movers:
- Intel (INTC) shares jumped as much as 12% on Wednesday to the highest since January 2022 amid a broad rally in semiconductor stocks after Nvidia CEO Jensen Huang talked up the need for trillions of dollars more in computing infrastructure spending.
- Procter & Gamble (PG) growth in a key sales metric stagnated in the last quarter while volume slipped, showing that US consumers spent cautiously in the final months of the year.The maker of Pampers diapers and Tide detergent reported flat organic sales, which exclude the impact of currency volatility and acquisitions, in the quarter. That’s the slowest pace in a decade and slightly below the average estimate of analysts. Volume dropped by 1%, dragged down by declines in baby, feminine and family care products.
- Paramount Skydance (PSKY) again extended its tender offer for Warner Bros. Discovery Inc. shares, giving investors more time to weigh its proposal to acquire the rival media company.The new offer expires Feb. 20, the parent of CBS, MTV and other entertainment businesses said Thursday in a proxy filing. Paramount has been trying to acquire Warner Bros. since September. The company first launched its tender offer on Dec. 8, three days after Netflix Inc. announced a deal to buy Warner Bros.’ studios and streaming businesses. The company previously extended the offer for another month on Dec. 22.