U.S. stocks on the move: Intel, Vaxcyte, Constellation Brands
SPY•Intel rose after a report said it remained involved in Musk’s Terafab, while Constellation Brands fell after lowering its margin forecast and Vaxcyte edged lower after a $1 billion raise.
1. Stocks in focus
Intel shares rose after a report said the company remained involved in Musk’s Terafab. Constellation Brands fell after lowering its margin forecast, and Vaxcyte edged lower after raising $1 billion to fund its pneumococcal vaccine. Caribou Biosciences plunged as it explored a sale and scrapped cancer programs; Penguin Solutions jumped after raising its fiscal-year revenue forecast and reporting fourth-quarter results that beat expectations.
2. Market backdrop
Wall Street futures edged lower as Treasury yields and oil prices rose, with investors awaiting minutes from the Federal Reserve’s September meeting. Crypto-linked stocks fell as bitcoin hit a one-week low.
