Intel’s ‘historic collapse’ erases $8 billion from market value

By Aditya Soni and Nivedita Balu (Reuters) – Intel Corp saw about $8 billion wiped off its market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue forecast […]

Musk bullish on Tesla sales as price cuts boost demand

By Hyunjoo Jin and Akash Sriram (Reuters) – Tesla Inc’s aggressive price cuts have ignited demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, playing down concerns that a weak economy would throttle buyers’ interest. The company slightly beat Wall Street targets for fourth-quarter revenue and profit earlier on Wednesday despite a […]

General Dynamics forecasts weak 2023 as supply, labor challenges persist

By Nathan Gomes (Reuters) – U.S. defense contractor General Dynamics Corp on Wednesday forecast lower-than-expected 2023 results, as the industry struggles with labor and supply shortages, though strong demand for weapons helped it beat quarterly estimates. An “abnormally high retirement” of workers has impacted General Dynamics’ electric boat unit, which assembles nuclear-powered submarines, company executives […]

DOJ poised to sue Google over digital ad market dominance – Bloomberg News

(Reuters) -The U.S. Justice Department is poised to sue Alphabet Inc’s Google as soon as Tuesday regarding its dominance over the digital advertising market, Bloomberg News reported on Monday, citing people familiar with the matter. The lawsuit would be the second federal antitrust complaint filed against Google, alleging violations of antitrust law in how the […]

Brazil and Argentina to discuss common currency

By Lisandra Paraguassu BUENOS AIRES (Reuters) – Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned. “We intend to overcome the barriers to our exchanges, simplify and modernize the rules […]

Oilfield services firm SLB beats fourth-quarter profit forecast

By Arunima Kumar and Liz Hampton (Reuters) -Top oilfield services firm SLB on Friday reported results that topped Wall Street estimates for fourth-quarter profit on strong global demand for its drilling services and equipment. Formerly called Schlumberger, SLB has benefited from increased oil drilling and production and strong increases in its North America and Latin […]

Wall St sinks after weak data, hawkish Fed comments

By Sinéad Carew and Shreyashi Sanyal (Reuters) – The S&P 500 and the Dow lost almost 2% on Wednesday, their biggest daily drops in more than a month, after weak economic data fueled recession worries while hawkish comments from Federal Reserve officials soured investor moods further. Before the market opened, U.S. economic data showed retail […]

Who’s to blame? Jet delivery delays spark penalties battle

By Tim Hepher and Padraic Halpin DUBLIN (Reuters) – A battle for compensation is brewing over delays in the delivery of commercial jets, with a Dublin aviation summit descending into a blame game over the worst industrial disruption in years. Airbus and Boeing are on average delivering new jetliners three-to-six months late, blaming post-pandemic havoc […]

Tech talk

Intel’s ‘historic collapse’ erases $8 billion from market value

January 27, 2023

By Aditya Soni and Nivedita Balu (Reuters) – Intel Corp saw about $8 billion wiped off its market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue forecast […]
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