Intel shares suffer steepest plunge in over three years after disappointing revenue forecast

  • 📰 CNBC
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 72%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Despite reporting better-than-expected earnings, Intel's shares fell after it reported a weak revenue forecast for 2019. CEO Bob Swan discusses the company's latest earnings report.

shares had their steepest drop on Friday since January 2016, after the company released disappointing full-year revenue guidance in its earnings report late Thursday., shares fell after it reported a weak revenue forecast for 2019. The company expects sales to total $69 billion for the year, $2.05 billion below expectations.

The stock dropped 9% to $52.43 and is now up 12% for the year. The move shaved close to $24 billion from the company's market cap, leaving it valued around $235.8 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

C

intel Fire Bob Swan!!!!!

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:

 /  🏆 12. in BUSÄ°NESS

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 shares on pace for biggest plunge since 2008 after disappointing revenue forecastShares of Intel plunged nearly 10% on Friday following the company's release of its first quarter earnings report last night in which it provided a weak revenue forecase.
Source: CNBC - 🏆 12. / 72 Read more »

Tech stocks weigh on Wall Street after weak Intel resultsU.S. stocks edged lower on Friday as technology shares were hit by Intel's ...
Source: Reuters - 🏆 2. / 97 Read more »

Stocks making the biggest moves premarket: Amazon, Intel, Ford, Qorvo, Mattel & moreSome of the names on the move ahead of the open. What happens when rental car companies no longer need cars in 2019 because they already bought so many at steep discounted prices? I have an answer - F stock will tank like a brick. smokeandmirrors realeconomy Whatever happened to Ken?
Source: CNBC - 🏆 12. / 72 Read more »