Intel stock plummets on disappointing earnings outlook as new CEO takes ‘a more cautious view’

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

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: CNBC - 🏆 12. / 72 Leer más »

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.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

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.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »