Check out the companies making headlines before the market opens. Intel – Shares of Intel rose more than 1% in pre-market trading after the company announced a new artificial intelligence chip designed to compete with products from rivals Nvidia and Advanced Micro Devices. Despite the boom in artificial intelligence, Intel is down nearly 40% year to date, while Nvidia and AMD are up 132% and 11%, respectively, during the same period. GameStop — GameStop fell 2% after rising 21% on Monday amid speculation that meme stock trader Keith Gill could take a major position in the video game retailer. The Wall Street Journal reports that E-Trade is removing Gill from the platform over concerns about market manipulation. AMC Entertainment shares fell 3% after rising 11%. Bath & Body Works — Shares of the home fragrance and personal care retailer fell 9%. Bath & Body Works beat first-quarter profit and revenue expectations, but guidance for the current period was disappointing. The company expects earnings per share to be between 31 cents and 36 cents, compared with the FactSet estimate of 38 cents. SentinelOne — The cybersecurity stock rose 2.3% as Canaccord Genuity upgraded its rating to buy from hold. The company called SentinelOne a long-term winner and said its recent sell-off was “excessive.” Gitlab — The software company reported fiscal first-quarter profit and revenue that beat after-hours data on Monday, but shares still fell 2.3%. Adjusted earnings per share were 3 cents, while analysts polled by LSEG expected a loss of 4 cents per share. Revenue was $169 million, above consensus estimates of $166 million. Alphabet shares are hovering below flatline after the search giant cut at least 100 jobs in its cloud division, according to CNBC. —CNBC’s Fred Imbert, Alex Harring and Michelle Fox contributed reporting
