Intel Rallies as Deckers and Genmab Face Market Turbulence

Intel shares surged, gaining over 10% initially before settling at a 3.5% increase to $103.75. The company surpassed Wall Street expectations for the second quarter and signaled confidence in its long-term strategy by raising its 2026 capital expenditure outlook.

In the consumer sector, Deckers Outdoor shares fell 4.8% to $91.65 despite reporting strong first-quarter sales and an improved profit forecast. Meanwhile, healthcare stocks saw mixed results: Edwards Lifesciences rose 3.9% to $83.82 after reporting double-digit revenue growth and raising its guidance. Conversely, Genmab American Depositary Receipts dropped 4% to $28.00 after a lymphoma drug developed alongside AbbVie failed to meet its primary endpoint in a Phase 3 trial.