Intel Tanks on Big Q2 Earnings Miss: ETFs in Focus

Intel (INTC) disappointed investors as it reported lackluster second-quarter 2024 results. The world’s largest chipmaker missed estimates on both earnings and revenues and guided a loss for the third quarter. It plans to lay off 15% of its workforce as part of a $10 billion cost-savings plan and suspended quarterly dividend payments. Intel shares tumbled more than 22% in pre-market trade at the time of writing, indicating that the stock is set to erase nearly $25 billion in market value in today's trading s ...