Intel, AMD, Starbucks, and Fair Isaac Shares Move Amidst Reports and Restructuring Plans

Intel shares rose as the company is in talks to add AMD as a foundry customer. Fair Isaac's FICO scores will be directly offered to mortgage lenders, boosting its shares. Starbucks' restructuring plan, including closing underperforming stores, lifted its stock. Occidental Petroleum's chemicals unit was sold to Berkshire Hathaway for $9.7 billion, while Edison International's shares fell after the Trump administration canceled a federal grant. Lithium Americas shares declined after Cansaccord Genuity downgraded the stock. Oil and gold futures fell, and the 10-year Treasury yield dropped.

Intel Shares Rise on AMD Foundry Talks

Intel (INTC) shares surged 7% on Wednesday, October 1, following reports that the company is in early talks with Advanced Micro Devices (AMD) to manufacture chips through its foundry business. This potential partnership could significantly impact the dynamics between the two x86 processor competitors. AMD currently manufactures its chips with Taiwan Semiconductor Manufacturing Company (TSMC). If the deal materializes, it would validate Intel's foundry capabilities under CEO Lip-Bu Tan, who is rebuilding the company's manufacturing business after years of production challenges.

Fair Isaac's FICO Scores Boost Shares

Fair Isaac (FICO), a component of the S&P 500 index, saw its stock surge by 24% in early trading on September 26. The increase came after the company announced the launch of a new system that enables mortgage lenders to directly access FICO credit scores. This development is expected to streamline the mortgage process, potentially benefiting both lenders and borrowers by providing more accurate credit assessments.

Starbucks' Restructuring Plan Lifts Stock

Starbucks Corporation (SBUX) announced a $1 billion restructuring plan on September 26, which includes shop closures across North America. This plan aims to improve operations and redirect resources toward the company's key goals. The restructuring is projected to result in a 1% decrease in net unit growth for FY2025. The company will reduce around 900 additional corporate positions, adding to the 1,100 positions it terminated in February. Despite the challenging news, Starbucks' stock price lifted as investors viewed the restructuring plan as a strategic move to enhance operational efficiency.

Occidental Petroleum's Chemicals Unit Sold to Berkshire Hathaway

Occidental Petroleum (OXY) sold its chemicals unit to Berkshire Hathaway for $9.7 billion. This transaction is part of Occidental's ongoing efforts to focus on its core oil and gas business. The deal is expected to provide a significant cash injection to Occidental, which has been under financial pressure due to the ongoing energy transition and market conditions.

Edison International Shares Fall After Federal Grant Cancellation

Edison International (EIX) shares fell after the Trump administration canceled a federal grant. The cancellation of the grant, which was part of a broader renewable energy initiative, had a negative impact on Edison's stock price. The company has been investing heavily in renewable energy projects, and the cancellation of the grant could affect its financial performance and growth prospects.

Lithium Americas Shares Decline After Downgrade

Lithium Americas (LAC) shares declined following a downgrade by Cansaccord Genuity. The investment firm cited concerns about the company's financial performance and market outlook. The downgrade had a negative impact on Lithium Americas' stock price, reflecting investor concerns about the company's ability to execute on its strategic plans.

Oil and Gold Futures Fall; 10-Year Treasury Yield Drops

Oil and gold futures fell on September 12, reflecting broader market sentiment and geopolitical risks. The 10-year Treasury yield also dropped, indicating a decrease in investor demand for long-term government bonds. These market movements are influenced by various factors, including economic data releases, geopolitical events, and central bank policies.