News Formal

Intel stock plunges 10% as company announces cost cutting plan to slash jobs, suspend dividend

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Revenue Notizia

Italia Ultime Notizie,Italia Notizie

Shares of Intel fell more than 10% on Thursday, as the company reported worse than anticipated earnings.

) reported its second quarter earnings after the bell on Thursday, missing on the top and bottom line, and announcing a $10 billion cost reduction plan that will see the company cut 15% of its workforce and suspend dividend payments. In a release, Intel said it expects Q3 revenue of between $12.5 billion and $13.5 billion, well short of analysts' expectations of $14.3 billion.

The chip offers better power and battery life than competing Intel and AMD chips, making it a quality rival for Apple’s own M-series chips. But Intel is expected to launch its answer to Qualcomm’s processor later this fall. While firefighters continued to battle California’s biggest wildfire of the year, Norm Rosene was spending 18-hour days behind fire lines with a different task –- saving the animals. Tucked in an old wooden barn in the decimated forest town of Cohasset in northern California, his team stumbled upon a freshly born calf that appeared to be just a few days old.ST. PETERSBURG, Fla., Aug.

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 47. in İT
 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Tesla shares could swing 10% either way after earnings, options showEV maker appears poised for big moves by Friday
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Tesla shares could swing 10% either way after earnings, options showTraders in the options market expect Tesla shares to swing by nearly 10% in either direction by Friday, options data showed. With Tesla market cap at around...
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »

Stock market today: With US markets closed, Asian shares slip and European shares gainBANGKOK (AP) — Asian shares were mostly lower on Friday after solid gains in Europe overnight, while U.S. markets were closed for the July 4th holiday.
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »

Intel to report second quarter earnings amid reports of layoffsIntel will report its second quarter earnings after the bell on Thursday.
Fonte: YahooFinanceCA - 🏆 47. / 63 Leggi di più »