Intel Shares Rise on SK Hynix Chip Talks; J.B. Hunt Slides on Earnings Warning

Intel Corp. shares jumped in premarket trading Wednesday after a report detailed talks with South Korea's SK Hynix about a potential memory chip manufacturing partnership in the United States. In contrast, shares of J.B. Hunt Transport Services Inc. declined significantly after the logistics firm issued an unexpected warning on its quarterly earnings.

Semiconductor Partnership Eyed

Intel shares gained about 5% in premarket activity after Reuters reported that the company is in discussions with SK Hynix for a deal to produce memory chips in the U.S. The talks reportedly include options for SK Hynix to lease part of Intel’s planned factory in Ohio or to form a joint venture.

The potential partnership would mark a significant step toward expanding advanced memory chip manufacturing capacity on U.S. soil. Following the report, U.S.-listed shares of SK Hynix were up 2.9%, while its stock closed 2.7% higher in Seoul, outperforming the broader KOSPI index.

J.B. Hunt Issues Rare Warning

Shares of J.B. Hunt Transport Services fell as much as 9% in premarket trading after the trucking company announced an unusual mid-quarter earnings warning. Speaking at a Morgan Stanley conference, the company said it anticipates third-quarter earnings to decline between 5% and 10% from the second quarter.

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The company, which stated it does not typically provide intra-quarter updates, cited rising costs as the primary driver for the expected decline. Barclays analyst Brandon Oglenski noted the move was unusual, particularly as the company's commentary on freight-market fundamentals and demand was otherwise upbeat.

Other Notable Premarket Movers

Several other stocks saw significant moves ahead of the market open:

• Expedia (EXPE): Shares slipped 2.7% after Morgan Stanley initiated coverage with an "Underweight" rating. The bank cited concerns over flat user growth compared to rivals and exposure to commoditized travel segments vulnerable to AI disruption.
• Alvotech (ALVO): The biosimilar drugmaker's stock rallied 5.6% after Barclays upgraded it to "Overweight" from "Underweight." The upgrade was driven by an improved regulatory outlook after the FDA favorably closed an inspection of its manufacturing facility in Iceland.
• Beta Bionics (BBNX): Shares fell 5.8% after the company priced a $150 million public offering at a discount to its previous closing price, raising investor concerns about share dilution.