Pre-Market | Apple boosts iPhone output in India as market reacts to mixed futures

19 Aug., Dow Futures up 0.12% in pre-market, Nasdaq Futures down 0.15% in pre-market, S&P Futures down 0.06% in pre-market. Apple increases iPhone output in Indian factories to supply new models to the U.S. market, impacting trade flows and production capacities, contributing to the mixed movements in the market.

Palo Alto Networks shares rose over 6% in pre-market trading, driven by strong quarterly results and upbeat future guidance that exceeded investor expectations. Intel shares also saw a significant increase, rising nearly 5.5% in pre-market trading, following SoftBank's announcement of a $2 billion equity investment in the company. Meanwhile, Medtronic shares dropped over 3.5% in pre-market trading, as unusually large put option activity signaled increased bearish sentiment. Sumitomo Mitsui Financial Group shares fell over 1.5% in pre-market trading, with annual revenue and earnings decreasing.

In pre-market trading, Laser Photonics surged by 84.11% due to a significant increase in Q2 revenue, driven by strategic acquisitions and market expansion. Plymouth Industrial also saw a notable rise of 42.42%, attributed to an unsolicited acquisition proposal by Sixth Street Partners. Conversely, Viking Therapeutics dropped by 29.82% following disappointing financial results and clinical setbacks. Catheter Precision experienced a decline of 24.00%, facing significant financial and operational challenges with ongoing losses and negative cash flow.

Negotiations have commenced between SoftBank and Intel regarding the potential acquisition of contract chip manufacturing assets. Apple initiated large-scale mass production for the iPhone 17, including enhancements to AI capabilities and upgrades in components, while expanding output at five factories in India to supply new models for the US market. Separately, a hedge fund established by former Goldman Sachs employee Qin Xiao secured $1 billion in funding from Millennium.