Intel Corp. shares plummeted as much as 9% in the extended session Thursday after the chip giant’s outlook fell way below Wall Street estimates offsetting an earnings beat.
“Looking ahead, we’re taking a more cautious view of the year, although we expect market conditions to improve in the second half,” Intel Chief Executive Bob Swan said in a statement. “Our team is focused on expanding our market opportunity, accelerating our innovation and improving execution while evolving our culture.”
Intel shares dropped about 9% in immediate after-hours trades, following a 1.9% decline to close the regular session at $57.61. In comparison, the PHLX Semiconductor Index SOX, -1.81% finished down 1.8%, the Dow Jones Industrial Average DJIA, -0.51% declined 0.5%, the S&P 500 index SPX, -0.04% fell less than 0.1%, and the Nasdaq Composite Index COMP, +0.21% rose 0.2%.
Still smile . No worry next time
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intel set to report first-quarter earnings after the bellIntel is providing its first earnings report since announcing that it's exiting the 5G smartphone market.
Source: CNBC - 🏆 12. / 72 Read more »
What this week’s Apple-Qualcomm-Intel dance means for the future of 5GQualcomm is now alone at the top of the 5G chip market. 😂😂😂
Source: washingtonpost - 🏆 95. / 72 Read more »
Intel dipped down over 6% after CEO Bob Swan says it's 'taking a more cautious view of the year' as it slashes its earnings forecastOne week after new CEO Bob Swan's surprise move to get out of the smartphone business, Intel reported its Q1 earnings. Stock fell 6% after the bell.
Source: BusinessInsider - 🏆 729. / 51 Read more »
LIVE: Here come Intel's Q1 earningsOne week after new CEO Bob Swan's surprise move to get out of the smartphone business, Intel is set to report its Q1 earnings. 😆😂a joke in itself.
Source: BusinessInsider - 🏆 729. / 51 Read more »
What the future holds for Taco Bell after ex-CEO Brian Niccol defected to ChipotleWith more than 6,500 locations across the country, Taco Bell is one of the top fast-food chains in the U.S. But turnover in top management could mean trouble for the company in the years ahead. Their $5 'box' deals are awesome. Plenty of food, and a drink for $5. One of the best fast-food deals out there and healthier than most, apparently. cc SuperMugatu JeffMacke something something american eater wins again I like the detox effect the food you. But it's probably why they don't have playgrounds...
Source: CNBC - 🏆 12. / 72 Read more »