Wall Street Breakfast: Intel Flexes on Q2 Beat, Trump Tariffs Loom, Oracle Lands Military Deal
Intel reported its strongest revenue growth in over 15 years, with Q2 revenue up 24.8% to $16.1 billion and EPS of $0.42, beating estimates. CEO Lip-Bu Tan attributed the growth to AI-driven demand. Intel also issued strong Q3 guidance. The Trump administration announced new tariffs on 60 trading partners, including the EU, under Section 301 for alleged forced labor enforcement failures, covering 99.4% of U.S. imports but exempting oil, gas, and food. Oracle secured a 10-year, nearly $7 billion contract with the U.S. Department of War for enterprise software services across all military branches, the Coast Guard, and intelligence community. Premarket shares rose for Intel (4%) and Oracle (2.7%). Crude oil fell 3.2% to $89, while European indices were slightly up.
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