"Intel ( NASDAQ: INTC) is down about 12.7% this morning on a disappointing first-quarter outlook. In its most recent quarter, the company saw EPS of 15 cents, which was above expectations of eight cents. Revenue of $13.7 billion was slightly better than expectations of $13.4 billion. Unfortunately, guidance sank the stock. Intel now expects first-quarter revenue between $11.7 billion and $12.7 billion, and breakeven adjusted earnings per share. That's below expectations of five cents on $12.51 billion in sales."
"All as the U.S. prepares for a potentially disastrous winter blast. That's because managers of electric grids say freezing temperatures, ice, and snow could lead to power outages in many places, leaving millions of us in the dark. "When you get one day of cold weather, it's not as significant. But we're talking about three or four days here of very low temperatures," said Douglas Giuffre, who leads U.S. power and renewables research for S&P Global Energy, as quoted by The New York Times."
Major U.S. indices opened lower after a recent two-day rally, with the S&P 500 down about 0.18%, the SPDR S&P 500 ETF (SPY) down 0.2%, the Dow down about 0.4%, and the Nasdaq down 0.25%. Intel fell roughly 12.7% after providing weak first-quarter guidance despite reporting EPS of $0.15 and revenue of $13.7 billion. Intel forecast first-quarter revenue of $11.7–$12.7 billion and breakeven adjusted EPS, citing supply shortfalls for seasonal demand. Nvidia and AMD rose in premarket trading. Generac shares surged as concerns grew that a multi-day winter blast could trigger widespread power outages, and natural gas prices are also rising.
#stock-markets #intel-intc #generac--generator-stocks #winter-storm--power-outages #semiconductors-nvidia-amd
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