Closing Bell: Carvana Climbs, Abbott Drops, Intel Gives Weak Forecast

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

• Carvana (CVNA) shares rose Thursday as Barclays boosted its price target on the online car-selling platform to $530 from $465 and increased its 2026 profit estimate to $7.46 from $7.01.
• Abbott Laboratories (ABT) said first-quarter profit will be lower than Wall Street expected after the company was forced to offer discounts on nutrition products to lure price-conscious customers, sending shares plunging. The company forecast first-quarter adjusted earnings per share to reach $1.12 to $1.18, compared to the average Wall Street estimate of $1.19 a share. Analysts’ expectations were already low, as they anticipated the company to issue more conservative guidance to avoid the impact of Covid-19 testing sales, which have continued to decline since the pandemic. The shares closed 10% lower Thursday in New York, their biggest one-day decline since June 2002.
• Intel (INTC) gave a lackluster forecast for the current quarter because supply shortages are making it harder to meet customer demand, a disappointment for investors who anticipated more of a boost from new products. Intel is struggling with its manufacturing yields — the percentage of usable chips coming out of its factories — hampering a comeback bid. The once-dominant semiconductor company has spent years trying to restore its technological edge and recover from market share losses, and this is one more setback. Intel shares fell about 3% in extended trading Thursday following the report.

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