{"id":89795,"date":"2024-02-15T07:05:06","date_gmt":"2024-02-15T12:05:06","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=89795"},"modified":"2024-02-15T07:05:07","modified_gmt":"2024-02-15T12:05:07","slug":"intel-american-express-visa-spirit-airlines-kla-western-digital-and-more-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89795","title":{"rendered":"Intel, American Express, Visa, Spirit Airlines, KLA, Western Digital, and More Movers"},"content":{"rendered":"
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Stocks closed mixed Friday as the Federal Reserve\u2019s preferred inflation metric revealed price pressures eased markedly in December.<\/p>\n

These stocks made moves Friday:\u00a0<\/p>\n

\n

\n Intel
\n fell 12% after the semiconductor company issued a revenue forecast for the first quarter that was significantly below analysts\u2019 expectations. Intel said it expects revenue in the period of $12.2 billion to $13.2 billion, below consensus of $14.2 billion. The company forecast adjusted earnings in the first quarter of 13 cents a share, below analysts\u2019 estimates of 34 cents. Chief Executive\u00a0Pat Gelsinger\u00a0said Intel\u2019s forecast was taking a hit from struggles in the company\u2019s programmable-chip unit and\u00a0its autonomous-driving business.<\/p>\n

Shares of other chip makers sank:
\n Advanced Micro Devices
\n fell 1.7%,
\n Nvidia
\n 0.9%,
\n Broadcom
\n declined 2%, and
\n Qualcomm
\n fell 2.4%.<\/p>\n

\n American Express
\n reported fourth-quarter earnings of $2.62 a share on revenue of $15.8 billion. The company said it expects revenue in 2024 to increase 9% to 11% with earnings of $12.65 to $13.15 a share.
\n American Express
\n said demand for its premium products \u201cremained robust.\u201d Shares rose 7.1%.<\/p>\n

\n Visa
\n reported adjusted first-quarter earnings of $2.41 a share, better than forecasts of $2.34 as revenue rose 9% to $8.63 billion.
\n Visa
\n said payments volume rose 8% and processed transactions rose 9% in the period. The company reiterated its revenue and per-share profit forecast for the fiscal year. The stock closed down 1.7%.<\/p>\n

\n Spirit Airlines
\n dropped 13% after
\n JetBlue Airways
\n warned it may have to terminate its merger with the budget carrier as soon as Sunday if certain closing conditions weren\u2019t met. A federal judge blocked their planned merger earlier this month but the airlines had said they planned to appeal. JetBlue rose 3.6%.<\/p>\n

\n Western Digital
\n reported\u00a0a fiscal second-quarter adjusted loss of 69 cents a share, narrower than analysts\u2019 estimates that called for a loss of $1.12. Revenue fell 2% to $3.03 billion from $3.11 billion in the year-earlier quarter. Cloud revenue fell 13%.
\n Western Digital
\n issued third-quarter sales guidance of $3.2 billion to $3.4 billion, compared with analysts\u2019 expectations of $3.15 billion. Shares declined 3.5%.<\/p>\n

\n KLA Corp.,<\/span>
\n which makes equipment for the semiconductor industry, reported fiscal second-quarter profit of $582.5 million, or $4.28 a share, compared with $978.8 million, or $6.89 a share, a year earlier.\u00a0Revenue fell to $2.49 billion from $2.98 billion a year earlier.
\n KLA
\n said it expects fiscal third-quarter revenue of $2.3 billion, plus or minus $125 million, versus expectations of $2.45 billion. KLA shares declined 6.6%.<\/p>\n

\n Norfolk Southern
\n fell 1.5% after adjusted quarterly earnings at the railroad operator missed estimates and the company recorded another charge\u2014this time of $150 million\u2014associated with\u00a0the East Palestine train derailment\u00a0in February 2023.<\/p>\n

\n Snap
\n was raised to Buy from Hold at
\n Deutsche Bank
\n and the price target was raised to $19 from $10. Shares of the
\n Snapchat
\n parent fell 0.3% to $16.25.<\/p>\n

Write to Joe Woelfel at joseph.woelfel@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks closed mixed Friday as the Federal Reserve\u2019s preferred inflation metric revealed price pressures eased markedly in December. These stocks made moves Friday:\u00a0 Intel fell 12% after the semiconductor company issued a revenue forecast for the first quarter that was significantly below analysts\u2019 expectations. Intel said it expects revenue in the period of $12.2 billion […]<\/p>\n","protected":false},"author":1,"featured_media":59298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-89795","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIntel, American Express, Visa, Spirit Airlines, KLA, Western Digital, and More Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks closed mixed Friday as the Federal Reserve\u2019s preferred inflation metric revealed price pressures eased markedly in December. 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