Intel, Absci, and AST SpaceMobile Stocks Move Lower in Friday's Pre-Market Session

Intel shares fell 5.9% to $21.30 in pre-market trading after the company reported a loss for Q2 and reduced its workforce to 75,000 employees by the end of the year. Absci Corporation, AST SpaceMobile, Almonty Industries, Synovus Financial Corp, Sarepta Therapeutics, ABIVAX Société Anonyme, and Semler Scientific also moved lower in pre-market trading.

Intel Corporation (NASDAQ: INTC) reported a loss for the second quarter of 2025 and announced plans to reduce its workforce to 75,000 employees by the end of the year, leading to a 5.9% drop in its stock price to $21.30 in pre-market trading on July 2, 2025. The company's stock was among the lowest movers in pre-market trading, along with shares of Absci Corporation, AST SpaceMobile, Almonty Industries, Synovus Financial Corp, Sarepta Therapeutics, ABIVAX Société Anonyme, and Semler Scientific.

Under the leadership of new CEO Lip-Bu Tan, Intel has been undergoing a significant restructuring effort. Tan, who took over in March 2025, has been focusing on efficiency and reduced bureaucracy. The company has redirected resources, laid off workers, and divested companies. A significant workforce reduction has already been completed in Q2, and the company plans to end the year with a global headcount of ~75,000 [1].

Intel's Q2 2025 earnings call transcript indicated that the company has redirected its resources and cancelled or paused major factory projects in Germany, Poland, and Costa Rica, consolidating operations in Vietnam and Malaysia instead. Tan has emphasized the need for every investment to make economic sense and has pledged to build what customers need, when they need it, and earn their trust through consistent execution [1].

The company reported an $18.8 billion loss in 2024, its first annual loss since 1986. Intel continues to face competition from Nvidia, AMD, Samsung, and TSMC. Despite the challenges, Intel remains the world's third-largest semiconductor chip manufacturer by revenue in 2024 [3].

Investors have been closely monitoring Intel's financial performance and restructuring efforts. The company's stock price has been volatile, with a 26% drop on August 2, 2024, after it announced 15,000 job cuts and paused its dividend to save $10 billion by 2025. A federal judge in San Francisco dismissed a lawsuit accusing Intel of misleading investors about its foundry business, which makes chips for other companies [2].

Intel's stock price drop in pre-market trading on July 2, 2025, reflects investor concerns over the company's financial performance and workforce reduction. As Intel continues to navigate its restructuring efforts, investors will be closely watching for updates on the company's financial health and future prospects.

References:
[1] https://seekingalpha.com/news/4471981-intel-sees-15-workforce-reduction-as-ceo-tan-plans-revival
[2] https://profit.pakistantoday.com.pk/2025/07/25/intel-wins-investor-lawsuit-over-alleged-stock-price-inflation/
[3] https://en.wikipedia.org/wiki/Intel