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Intel stock rises on earnings beat, plans for layoffs, billions in cost cuts planned

Intel stock rises on earnings beat, plans for layoffs, billions in cost cuts planned

Intel Corp. shares rose after hours Thursday after the chip maker topped Wall Street earnings estimates for the quarter and PC-chip sales came in slightly higher than expected, while the company trimmed its full-year outlook once more and said it expects to cut costs by $3 billion in 2023, including layoffs. Intel INTC, -3.45% shares …

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These 11 stocks can lead your portfolio's rebound after the S&P 500 'earnings recession' and a market bottom next year

These 11 stocks can lead your portfolio’s rebound after the S&P 500 ‘earnings recession’ and a market bottom next year

This may surprise you: Wall Street analysts expect earnings for the S&P 500 to increase 8% during 2023, despite all the buzz about a possible recession as the Federal Reserve tightens monetary policy to quell inflation. Ken Laudan, a portfolio manager at Kornitzer Capital Management in Mission, Kan., isn’t buying it. He expects an “earnings …

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JPMorgan profit falls but beats estimates while Morgan Stanley misses

JPMorgan profit falls but beats estimates while Morgan Stanley misses

JPMorgan Chase & Co. shares rose Friday after the megabank beat analyst targets for third-quarter profit and revenue and said it would top forecasts for its net interest income in the coming quarter. In a busy day for bank earnings, Wells Fargo & Co. WFC, +2.75% fell short of earnings target but its stock rose …

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Micron earnings suggest the chip downturn could be worse than Wall Street expects

Micron earnings suggest the chip downturn could be worse than Wall Street expects

Micron Technology Inc. executives warned about a semiconductor downturn in late June, but now say that a “sharp and sudden” drop in demand exceeded even those expectations, suggesting the current chip glut could get a lot worse. Micron MU, -1.94% reported a worse-than-expected fiscal fourth quarter Thursday, with revenue plunging 23% from last year, but …

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Growling Powell causes Goldman to cut its S&P 500 price target.  Again.

Growling Powell causes Goldman to cut its S&P 500 price target. Again.

During the height of the bull market – which, boy, seems so long ago – the call-option crazy punters inhabiting the Wallstreetbets channel had a favorite meme to explain why stocks would keep going higher. “Money Printer Go Brrr” featured a Rambo-esque Jay Powell, chair of the Federal Reserve, determinedly firing out greenbacks to whoever …

Growling Powell causes Goldman to cut its S&P 500 price target. Again. Read More »

The Dow tumbled 500 points because Jerome Powell's Fed 'isn't going to blink'

The Dow tumbled 500 points because Jerome Powell’s Fed ‘isn’t going to blink’

It took stock-market investors a while to make up their minds, but when the closing bell sounded on Wednesday it was clear they didn’t like what they had heard from the Federal Reserve and its chairman Jerome Powell. See: Fed approves third large interest rate hike and signals more before year-end Central bankers also penciled …

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Verizon has 'few palatable options,' analyst says in downgrade

Verizon has ‘few palatable options,’ analyst says in downgrade

Verizon Communications Inc. is in a “particularly difficult position” given current wireless-industry trends, and that dynamic has one analyst taking a more downbeat view on the shares. MoffettNathanson analyst Craig Moffett cut his rating on the telecommunications stock to underperform from market perform Thursday, writing that he continues to see “no easy answers” for Verizon …

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Fuel cell-powered truck maker Hyzon's stock suffers a record plunge after accounting questions raise delisting fears

Fuel cell-powered truck maker Hyzon’s stock suffers a record plunge after accounting questions raise delisting fears

Shares of Hyzon Motors Inc. were suffering a record plunge toward a record low Friday, after the maker of fuel cell-powered trucks disclosed a “myriad of issues,” including accounting irregularities that will cause it to miss the filing deadline for second-quarter results. That prompted a number of analysts to back away from their bullish stances, …

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