Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With second-quarter earnings from tech's mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq slumped 3.4% this week, bringing its three-week slide to 8.8%. It's the worst performance for the techheavy index over that length of time since September 2022, when the market was in freefall due to soaring inflation and rising interest rates. Since th ...

Key TakeawaysThe S&P 500 plunged 1.8% on Friday, Aug. 2, 2024, as an unexpected uptick in the unemployment rate added to concerns about a possible economic slowdown.Intel shares plunged after the chipmaker reported a wider-than-expected quarterly loss and announced layoffs to cut costs.Clorox shares moved higher after the company topped profit forecasts, with a streamlined operating model helping drive gross margin expansion. Major U.S. equities indexes tumbled Friday following the release of the latest U.S ...

Intel's stock price nosedived more than 25% on Friday trading, one its worst trading days in 40 years. The company lost roughly $30 billion in market value after it gave a disappointing forecast and said it would cut 15% of its workforce, deepening worries about its ability to catch up with Taiwan's TSMC and other chipmakers. "Intel's issues are now approaching the existential in our view," Bernstein analyst Stacy Rasgon said. 4 Intel shares plunged nearly 30% on Friday after it announced mass layoffs and d ...

harmpeti On our last coverage of Intel Corporation (NASDAQ:INTC) we got booed by the fan club. While they saw the potential of the foundry business, we saw problems galore in the current financials. We explained why the company was likely to do poorly and felt there was asymmetrical downside bias. Currently, considering INTC is disappointing like no other time before, we see the potential for a trough under 2.0X sales. One thing that investors need to consider is that there is some severe downside risk ...

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 ...

hapabapa Intel (NASDAQ:INTC) released its Q2 results on August 1st, revealing disappointing performance along with job cuts and a dividend suspension. I highlighted my 'Sell' thesis in my previous coverage published in April 2024, arguing Intel's GPU technology is lagging at least one process node behind Nvidia (NVDA). Since April 2024, the stock price has dropped by more than 35%. I believe Intel is unlikely to catch up with its rivals, and the cost reduction plan further indicates the company faces signif ...

D-Keine Intel Corporation's (NASDAQ:INTC) shares fell a massive 27% after the company submitted its Q2'24 earnings scorecard that showed surprisingly weak guidance for the chipmaker. Intel missed quarterly revenue estimates and reported a $1.6 billion loss as the company is scaling up production of its Core Ultra PC chips. Additionally, Intel announced an aggressive cost restructuring package, which is set to lay off 15% of its global workforce and eliminate the dividend for the fourth fiscal quarter. The d ...

ToplineIntel is on track to erase more than $30 billion in market value in one of its worst days since going public decades ago, part of a broader selloff as tech titans release lackluster earnings reports amid growing investor skepticism as to whether big tech’s hefty investments in AI can pay off.Intel shares plummeted on Friday.Getty Images Key FactsIntel shares fell nearly 30% on Friday morning after the company announced plans to slash its workforce and halt its dividend, as well as issuing grim revenu ...

Intel just served up a wave of very bad news for investors.The stock of Intel (INTC -28.11%) is getting crushed in Friday's trading. The company's share price was down 29% as of 10:30 a.m. ET today, according to data from S&P Global Market Intelligence.Intel published its second-quarter results after the market closed yesterday, and sales and earnings missed Wall Street's expectations. Making matters worse, the semiconductor company also issued weak guidance, announced extensive layoffs, and said that it wo ...

ToplineIntel shares nosedived Friday after the American stalwart announced an array of bad news including hefty layoffs and disappointing earnings, setting the chipmaker on track for its worst day in decades and dragging the entire market down as it ignites a massive selloff of global semiconductor stocks.Intel shares plummeted amid a broader chip stock rout on Friday. NurPhoto via Getty Images Key FactsIntel shares fell nearly 30% on Friday morning after the company said it was cutting more than 15% of its ...