Intel shares are trading lower after the company reported worse-than-expected Q2 financial results and issued soft guidance. The company also suspended its dividend and announced a headcount reduction. Raymond James downgraded the stock following the report.
Portfolio Pulse from Benzinga Newsdesk
Intel shares are trading lower after the company reported worse-than-expected Q2 financial results and issued soft guidance. The company also suspended its dividend and announced a headcount reduction. Raymond James downgraded the stock following the report.
August 02, 2024 | 12:16 pm
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Intel reported worse-than-expected Q2 financial results, issued soft guidance, suspended its dividend, and announced a headcount reduction. Raymond James downgraded the stock.
The combination of disappointing Q2 results, soft guidance, dividend suspension, and headcount reduction indicates significant operational and financial challenges for Intel. The downgrade by Raymond James further adds to the negative sentiment, likely leading to a short-term decline in the stock price.
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