On this episode of Stock Movers:
- Intel (INTC) shares plunged after Chief Executive Officer Lip-Bu Tan gave a lackluster forecast and warned that the chipmaker was struggling with manufacturing problems. The company is suffering from low manufacturing yields and has spent years trying to restore its technological edge and recover from market share losses.
- Proctor & Gamble (P&G) shares fall after the household products company reported organic revenue for the second quarter that missed the average analyst estimate. Procter & Gamble Co.’s growth in a key sales metric stagnated in the last quarter while volume slipped, showing that US consumers spent cautiously in the final months of the year.
- Capital One (COF) shares fall after the firm agreed to acquire Brex, a financial-technology company, for $5.15 billion. The deal would be Capital One’s biggest since its acquisition of Discover Financial Services, and is expected to be completed in the middle of this year.
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