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Intel earnings may be overshadowed by memory dump

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Intel is scheduled to report earnings after the bell Thursday, but analyst commentary has already steered away from earnings results to its announced plans to sell its flash-memory, or NAND, business to Korean chip maker SK Hynix Inc. for $9 billion.

Intel Corp.’s quarterly results may be upstaged by a big divestiture announced just days before the report.

After announcing the deal on Monday, expect management commentary in Thursday’s conference call to focus on the memory deal, and how it affects the rest of the company moving forward. That might be beneficial to Intel, as the chip maker heads toward a decline in profit and revenue amid difficulties with its engineering process.

Stock movement: Intel stock fell more than 13% over the third quarter following the company’s announcement that it would delay release of its next generation of chips. In comparison, the Dow Jones Industrial Average DJIA, +0.40% — which counts Intel as a component — rose 7.6%, the S&P 500 index SPX, +0.47% advanced 8.5%, and the tech-heavy Nasdaq Composite Index COMP, +0.32% gained 11%.

 

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Intel sells NAND memory chip business to SK Hynix for $9 billionUS chipmaker Intel is selling part of its memory chip business to SK Hynix for $9 billion in a deal that would make the South Korean company the world's second biggest flash memory chipmaker.
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