Despite reporting better-than-expected earnings, Intel's shares fell after it reported a weak revenue forecast for 2019. CEO Bob Swan discusses the company's latest earnings report.
shares had their steepest drop on Friday since January 2016, after the company released disappointing full-year revenue guidance in its earnings report late Thursday., shares fell after it reported a weak revenue forecast for 2019. The company expects sales to total $69 billion for the year, $2.05 billion below expectations.
The stock dropped 9% to $52.43 and is now up 12% for the year. The move shaved close to $24 billion from the company's market cap, leaving it valued around $235.8 billion.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intel shares on pace for biggest plunge since 2008 after disappointing revenue forecastShares of Intel plunged nearly 10% on Friday following the company's release of its first quarter earnings report last night in which it provided a weak revenue forecase.
Read more »
Glencore stock weakens as U.S. probes 'corrupt practices'Glencore Plc shares plunged the most in nearly four months on Friday after news ...
Read more »
Asia shares subdued, dollar pins hopes on U.S. GDPAsian shares got off to a subdued start on Friday, while the dollar held near tw...
Read more »
Asia shares doze off, dollar perky on GDP hopesAsian shares drifted off in sleepy trade on Friday, while the dollar held around...
Read more »
Tech stocks weigh on Wall Street after weak Intel resultsU.S. stocks edged lower on Friday as technology shares were hit by Intel's ...
Read more »
Retailers slip on Amazon's one-day delivery planShares of Walmart, Target and other U.S. retailers fell on Friday as Amazon.com ...
Read more »
Intel's stock on track to shave 29 points off Dow's price, enough to turn Dow futures negativeShares of Intel Corp. sank 7.4% in premarket trade Friday, enough to turn Dow Jones Industrial Average futures negative, after the chip maker provided a...
Read more »
The Latest: New Zealand: No intel linking Sri Lanka bombingsThe office of New Zealand's prime minister says she is aware of comments linking Sri Lanka's Easter bombings to the mosque attacks in Christchurch, though it hasn't 'seen any intelligence upon which such an assessment might be based'
Read more »
Stocks making the biggest moves premarket: Amazon, Intel, Ford, Qorvo, Mattel & moreSome of the names on the move ahead of the open.
Read more »
Intel drops 7% after chipmaker projects a drop in revenue this yearIntel removed itself from the 5G race, so now it has to rely on legacy businesses.
Read more »