Intel Stock Lower on Revenue Miss, Quarterly Outlook

Intel Corp (NASDAQ:INTC) stock is 11.6% lower to trade at $31.04 at last check. Though the semiconductor giant's first-quarter profits beat expectations, revenue missed the mark. In addition, the blue chip's current-quarter outlook came in well below analysts' estimates.No fewer than 18 analysts cut their price targets in response, with the lowest coming from Wolfe Research to $29 from $31. The brokerage bunch is skeptical of INTC, with 29 of 34 firms in question calling it a tepid "hold" or worse, but the ...