James Hardie Industries (NYSE:JHX) shares tumbled more than 35% on Wednesday, marking their steepest one-day drop since 1973, after the building materials company posted weaker-than-expected quarterly results and sharply cut its outlook for the year.
The maker of fiber cement siding and other home construction products reported fiscal first quarter net income of $62.6 million, or $0.15 per share, down from $155.3 million, or $0.36 per share, a year earlier.
Intel Corp (NASDAQ:INTC, ETR:INL) is in discussions with several large investors to raise fresh capital through a discounted equity infusion, according to a CNBC report citing people familiar with the matter.
The talks follow a $2 billion investment from Japan’s SoftBank, which purchased shares at $23 each, slightly below the company’s recent closing price of $23.66.
Hertz Global (NYSE:HTZ) shares jumped more than 5% after it announced it has partnered with Amazon Autos to sell a portion of its used vehicle inventory through Amazon's automotive retail platform.
This deal marks the first time Amazon Autos will work with a fleet dealer, with Hertz Car Sales being the inaugural fleet partner.
Artificial intelligence stocks, including Palantir Technologies Inc (NYSE:PLTR), Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD), traded lower on Wednesday amid a broader tech-sector selloff, highlighting growing investor caution after an extended run-up in valuations.
Palantir led the declines, tumbling 7.5% in early trading after a 9% drop on Tuesday, to trade hands at about $145.
Guess? (NYSE:GES) shares surged in early trade as the American clothing company revealed it will go private in a deal with Authentic Brands that values it at $1.4 billion.
The company said Guess? shareholders will receive $16.75 per share in cash, representing a premium of 73% from when the company first disclosed back in March that it had received an acquisition proposal from a third party.
Estee Lauder Companies Inc (NYSE:EL, ETR:ELAA) shares tumbled as the beauty giant’s fiscal year 2026 outlook fell short of expectations amid tariffs and consumer weakness in its major markets.
The company said it expects adjusted earnings per share (EPS) in the range of $1.90 to $2.10, below Street forecasts of $2.21.
TJX Companies Inc (NYSE:TJX) shares rose 4% ahead of Wednesday’s open after the off-price retail giant beat expectations for the second quarter and raised its full-year outlook.
The company, owner of the TJ Maxx chain, reported earnings of $1.10 per share for the quarter ended August 2, up 15% from a year earlier and well above internal targets.
Lowe's Companies Inc (NYSE:LOW)) delivered a solid quarterly performance and announced a major acquisition aimed at deepening its reach into the professional construction market.
The home improvement giant announced it would acquire California-based Foundation Building Materials for $8.8 billion, adding a distributor that serves around 40,000 professional customers across more than 370 North American locations.
Target Corp (NYSE:TGT) shares were set to drop on Wednesday as the retailer announced a change of CEO and reported earnings that narrowly beat expectations.
The S&P 500 company said chief operating officer Michael Fiddelke will succeed Brian Cornell as chief executive from next February, after over a decade in the role.
Shares in OptiBiotix Health PLC (AIM:OPTI, OTC:OPBXF) rose as much as 9% on Wednesday after the company signed a distribution agreement with a major direct-selling weight management brand.
The AIM-listed life sciences group said it would supply SlimBiome products, designed to reduce hunger and food cravings, under the partner’s branding.
Shares in Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) leapt 39% higher to 0.034p after saying that its Zulu lithium and tantalum project in Zimbabwe has into full operation.
This followed the successful completion of the second phase of plant testing.
Shares in Viking Therapeutics (NASDAQ:VKTX) ended a bloody session 42% lower after the US biotech released trial data on its experimental obesity pill that underwhelmed investors.
The phase two results showed patients lost up to 12.2 % of body weight after three months on the treatment, VK2735.