Intel Stock More Than Quadrupled in a Year, Then Gave Back a Third

Constellation Brands shares fell 4.9% in premarket trading after the company's fiscal second-quarter 2027 results beat on earnings and revenue but its full-year profit outlook came in below analyst expectations. The company reported adjusted earnings of $3.74 per share, above consensus estimates of roughly $3.55 to $3.61, while net sales rose 6% year over year to $2.63 billion, topping the $2.54 billion estimate, but its reaffirmed fiscal 2027 adjusted EPS guidance of $11.20 to $11.90 carried a midpoint of $11.55, below the analyst consensus of about $11.72. Beer volumes remained weak, with Modelo Especial depletions down roughly 2% and Corona Extra down about 5%, bringing total beer depletions down 0.6% for the quarter, and the company also announced the acquisition of SpikedAde, a vodka-based, zero-sugar ready-to-drink beverage brand, for $75 million upfront plus up to $278 million in contingent payments over five years. Elsewhere in premarket trading, Intel shares rose 1% to around $113.50 after Elon Musk said TSMC will not own or operate the planned Terafab AI chip complex in Texas, easing concerns Intel could lose its role in the project, while Sigma Lithium shares surged nearly 5.9% after a Brazilian Federal Court of Appeals granted emergency suspensive relief upholding its environmental licenses at the Grota do Cirilo complex in Minas Gerais. Space Exploration Technologies shares slid 1.9% after a report said the company is seeking to raise $40 billion in debt to fund a massive Nvidia AI chip order, consisting of roughly $10 billion in bank loans and $30 billion in investment-grade bonds, with Apollo Global Management expected to lead the deal and Pimco among the lenders in early discussions.