Stocks With Major News: Intel Corporation (NASDAQ:INTC), Bunge Limited (NYSE:BG), Semtech Corporation (NASDAQ:SMTC)


Intel Corporation (NASDAQ:INTC) declared that its net income for the Q2 of $2.7B or $0.55 a share, as compared to $2.8B or $0.55 a share for the year-ago quarter. The firm reported that its revenue for the Q2 dropped 5 percent to $13.20B from $13.83B in the similar quarter previous year. Analysts polled by Thomson Reuters expected the company to earn $0.50 per share on revenue of $13.04 billion for the second quarter. Looking forward, the company forecasts third quarter revenue of $14.3 billion, plus or minus $500 million. Analysts currently expect the company to post revenue of $14.10 billion for the third quarter. Gross margin for the third quarter is expected to be 63%, plus or minus a couple of percentage points. Shares of Intel Corporation (NASDAQ:INTC) opened at $29.65 with 4744.00 million outstanding shares and hit to its highest price of $29.99 during the day and finally closed at $29.69 by scoring 0.13%. In the whole session, it traded on volume of 45.84 Million shares, which turned higher than its average volume.

Bunge Limited (NYSE:BG) reported on Wednesday that its North American operating arm Bunge North America has choose to close oil packaging plant in Bradley, Illinois. Additionally, functions currently performed in the adjacent administrative building for example financial and customer services, regulatory and innovation, will be transferred to St. Louis, BNA’s corporate headquarters. These changes are scheduled to occur in 18 to 24 months. Approximately 150 employees work in the oil packaging plant. The administrative office includes about 60 employees. Bunge Limited (NYSE:BG) stock hit highest price at $87.31, beginning with a price of $87.07 to closed at 86.70 by a decrease of -0.49% with a day range of $85.87-$87.31. The total market capitalization remained 12.45 Billion, total volume of 980031 shares held in the session was surprisingly higher than its average volume of 928.46 shares.

Semtech Corporation (NASDAQ:SMTC) declared on Wednesday that its aims to cut total number of employees by around 8% to curb sales, general and administrative expenses. According to CEO Mohan Maheswaran, “Given our recent revenue decline driven primarily by weak Korean smartphone demand, we have made the very difficult decision to reduce our headcount and operating expenses across a majority of Semtech’s locations.” The company expects to reduce its current annualized operating expenses by about $20.0 million once the reduction plan is fully executed. Semtech expects to record total charges related to these actions of approximately $3.5 million during the second and third quarters of fiscal year 2016. On the other consideration, Semtech Corporation (NASDAQ:SMTC) begun last trade with a price of $18.91 and throughout the trading session climbed at $19.04. The day-trade ended with a decrease of -2.39% to closed at $18.41. The stock is going forward its fifty-two week low with -0.65% and lagging behind from its 52 week high price with -38.65%. SMTC last month stock price volatility remained 2.61%.

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Jason Dinner