Intel Sinks After Offering; Nvidia Earnings Loom Large

Intel's (NASDAQ: INTC) recent $20 billion common stock offering has left investors underwater, with the stock now trading at $87.26 after being priced at $95 in mid-August.

This creates a textbook supply overhang scenario, where institutional sellers who bought the offering at $95 are sitting on losses and will likely sell into any rally.

UBS has cut its price target to $112 from $121 in August, but this may not be enough to stem the decline, as the stock has lost 15.7% in five trading sessions.

Nvidia (NASDAQ: NVDA) is also in focus ahead of its Q2 fiscal 2027 earnings report on Wednesday, August 26, after the close.

The company's $215 calls expiring August 28 have been trading at around $3.80 with 40,700 contracts changing hands on Monday, according to the options tape.