The company blamed its Q2 content slate for the subscriber miss.Technologyread more
Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them.Market Insiderread more
The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a...The Fedread more
IBM's year-over-year revenue has now declined for four quarters in a row. Impact from Red Hat is not yet factored into the company's guidance.Technologyread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
Prosecutors in Masschusetts have dropped a criminal case against actor Kevin Spacey, who had been accused of groping an 18-year-old man.Politicsread more
House Speaker Nancy Pelosi says she wants her chamber to vote on a debt ceiling and budget deal by July 26.Politicsread more
Philips has acquired a start-up that texts you about your poop. That's Medumo, a Boston-based company, which works with hospitals to guide their patients through common...Technologyread more
The "'Cadillac tax," set to go into effect in 2022, is unpopular with both Republicans and Democrats, who say it punishes the middle class.Health and Scienceread more
His case for gold comes as central banks get more aggressive with policies that devalue currencies and are about to cause a "paradigm shift" in investing.Marketsread more
The declaration comes days after a case of the virus was confirmed in the Congolese city Goma, which borders neighboring country Rwanda.Health and Scienceread more
Shares of Intel closed down 8.6 percent on Friday on fears of stiffening competition and product delays.
The chipmaker opened the day at $48.76 per share, before falling to an intraday low of $47.48 per share. By market close, Intel had recovered slightly, finishing out the day at $47.68 per share.
Despite the chipmaker reporting strong second-quarter earnings and revenue on Thursday, several analysts expressed concerns about competition from the likes of Advanced Micro Devices. Delays on next-generation microchips, which have plagued the company for months, certainly aren't helping.
AMD soared 14 percent on Thursday after reporting quarterly earnings and revenue that impressed Wall Street.
"The setup is for Advanced Micro Devices to control both the architectural and process node aspects of the x86 [processor] market for years to come; a dynamic we have never seen before and structurally destructive for Intel's business model. We reiterate our Sell rating," Rosenblatt Securities wrote in a note on Friday. The analysts noted that Intel could lose its "near monopolistic position in CPUs that allowed for increased ASPs."
Intel has been struggling to maintain production timeline goals on its next-generation chips. In its earnings release, Intel revealed the company's 10-nanometer chip production process would arrive in the second half of next year, meaning its next-generation products would arrive by the holiday season of 2019. Intel has teased the large-scale release of 10-nanometer chips for years, promising they'd deliver better performance with lower power usage than chips built with the company's 14-nanometer technology, which have been shipping since 2014.
The chip delays prompted Bank of America Merrill Lynch to downgrade shares of Intel on Friday to "neutral" from "buy," calling the delays Intel's "biggest risk."
Even as Intel struggles with 10-nanometer chip production, AMD said earlier in July it plans to start next-generation 7-nanometer chip production in late 2018.
"The biggest risk to Intel is the year delay in shipments of its next-gen 10 [nanometer] product while rivals Taiwan Semiconductor have finally caught up and are enabling Advanced Micro Devices, Nvidia and Xilinx to potentially leapfrog, " Bank of America analysts wrote.
Analysts at Stifel echoed Bank of America's concerns about 10-nanometer chips, adding that the costs to ramp up production could reduce the gross margin.
"We are not convinced that 2019 [gross margin] will expand year over year," Stifel wrote in a note on Friday.