Listen below or on the go via Apple Podcasts and Spotify

Intel (INTC) surges as Q1 results, guidance blow past Wall Street's forecast.(00:14) U.S. soldier charged after allegedly earning $400,000 betting on Maduro’s removal. (01:53) Nike (NKE) cuts 1,400 jobs in another layoff round this year. (03:20)

This is an abridged transcript.

Intel (INTC) is up 21% in premarket action.

The semiconductor company reported first-quarter results and guidance that were well above Wall Street's forecast.

For the period ending March 28, Intel said it earned an adjusted $0.29 per share as revenue rose 7.2% year-over-year to come in at $13.58B.

A consensus of analysts expected Intel to earn an adjusted $0.01 per share on $12.36B in revenue during the quarter.

“The next wave of AI will bring intelligence closer to the end user, moving from foundational models to inference to agentic. This shift is significantly increasing the need for Intel’s CPUs and wafer and advanced packaging offerings,” said Lip-Bu Tan, Intel CEO.

Seeking Alpha analyst Louis Gerard said the results “somewhat delivered” as the company has become “the biggest show me story on the market.”

“The company is basically cleaning its balance sheet early which is not reflected in the non-GAAP metrics,” Gerard said via email. “The management is effectively clearing decks, taking the pain now to potentially show a cleaner growth in 2027.”

Looking ahead, Intel expects second-quarter revenue to be between $13.8 and $14.8B, with the midpoint of $14.3B well above the $13.04B analysts were anticipating. It also anticipates earning an adjusted $0.20 per share, compared to the estimates of $0.09 per share.

A U.S. Army soldier allegedly earned over $400,000 on Polymarket (POLYMARKET) by trading with classified information about the timing of a U.S. military operation to capture Nicolás Maduro in Venezuela.

The Justice Department announced Thursday an indictment charging Gannon Ken Van Dyke with "unlawful use of confidential government information for personal gain, theft of nonpublic government information, commodities fraud, wire fraud, and making an unlawful monetary transaction."

As alleged in the indictment, Van Dyke participated in the planning and execution of the U.S. military operation to capture Maduro, and used his access to classified information about that operation to personally profit.

Van Dyke bet a total of about $33,034 on certain outcomes while in possession of classified nonpublic information about the operation.

Prediction market platform Kalshi (KALSHI) meanwhile said on Wednesday that it has suspended and penalized three congressional candidates - from Minnesota, Texas, and Virginia - over alleged “political insider trading” tied to their campaigns.

Nike (NKE) on Thursday announced a second round of layoffs this year, impacting nearly 1,400 roles.

The layoffs will be in the Global Operations team, with the majority concentrated in its technology department, the company said.

This will affect employees across North America, Asia, and Europe and represent less than 2% of the company’s total global headcount, according to CNBC.

Earlier this year, Nike cut 775 jobs at the company's distribution centers.

What’s Trending on Seeking Alpha

TSMC hits record high after Taiwan loosens fund investment limits; Taiex climbs 3.3%

Spirit Airlines bailout? Trump says 'I think we'd just buy it'

Microsoft offers buyouts to 7% of U.S. workforce amid AI shift: report

Stock index futures point to a mixed open as volatility picked up and hopes of a near-term resolution between the U.S. and Iran faded.

President Trump said in a social media post that he ordered the U.S. Navy to “shoot and kill any boat” caught laying mines in the strait. He also said the ceasefire between Israel and Lebanon will be extended by three weeks.

Crude oil is up 1.5% at $97. Bitcoin is down 0.8% at $77,000. Gold is flat at $4,695.

The FTSE 100 is down 0.8% and the DAX is down 0.6%.

The biggest movers for the day premarket: Coursera (COUR) -10% - Shares fell sharply after a wider-than-expected GAAP loss and declining free cash flow overshadowed otherwise solid operating metrics, including double-digit consumer revenue growth and a record 7.6M new learners in Q1.

Economic calendar:

• 10:00 am Consumer Sentiment