Intel tumbles in premarket; Hasbro, Chevron also down
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Friday, 27th January. Please refresh for updates.
- Intel (NASDAQ: INTC ) stock slumped 9.8% after the chipmaker reported a wider-than-expected loss in the fourth quarter as demand from the electronics sector weakened sharply. PC shipments, a core segment for Intel, are expected to be weak again this year and Intel expects another drop in sales and a further loss in the current quarter.
- Advanced Micro Devices (NASDAQ: AMD ) stock – another chipmaker exposed heavily to the PC sector – fell 2.3% in sympathy with Intel, while Nvidia (NASDAQ: NVDA ) stock fell 1.4%.
- Chevron (NYSE: CVX ) stock fell 1.3% after the oil and gas giant missed elevated expectations for its fourth quarter profit by around 7%, slightly taking the gloss off its mammoth $75 billion buyback announcement on Wednesday.
- Luxury stocks Hermes International (OTC: HESAY ) and Christian Dior (OTC: CHDRY ) rose to new all-time highs after a decent outlook from sector leader LVMH late on Thursday. LVMH (OTC: LVMUY ) said revenue growth slowed in the fourth quarter but was still up 9% from a year earlier. Profit missed expectations slightly, pushing LVMH (EPA: LVMH ) stock down 0.8% in Paris.
- American Express (NYSE: AXP ) stock rose 6.6% after the credit card company profited from a rebound in corporate spending on travel and entertainment in the fourth quarter.
- Hasbro (NASDAQ: HAS ) stock fell 6.2% after the company said it expects to cut around 1,000 jobs in response to weaker demand for its toys and games.
- Visa (NYSE: V ) stock rose 1.4%, after a modest beat on expectations for both top and bottom line in the fourth quarter.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or