Nasdaq futures drop after Intel margin warning | The highly effective 790 KFGO

By Shreyashi Sanyal

Reuters

Intel Corp slipped 10.3% in pre-market buying and selling because it missed third-quarter gross sales expectations, whereas its chief government pointed to a scarcity of different chips holding again gross sales of the corporate’s flagship processors.

Provide chain issues, inflationary pressures and labor shortages had been on the heart of the third quarter earnings season, with analysts anticipating S&P 500 earnings to rise 33 , 7% year-on-year, in accordance with information from Refinitiv.

Some analysts, nevertheless, have mentioned such issues will solely have a short lived affect on the earnings of mega-cap tech and communications corporations this season.

“Intel has additionally produced lower than stellar outcomes. Shorting huge tech has been a great way to lose cash over the previous couple of years, and I solely anticipate a short lived aberration, ”wrote Jeffrey Halley, senior market analyst, Asia Pacific at OANDA in a buyer be aware.

Fb Inc fell 3.7%, whereas Twitter Inc misplaced 4.1% after Snap Inc mentioned Apple Inc’s privateness modifications on iOS gadgets had been hurting the corporate’s capability to focus on and to measure its digital promoting.

Snap fell 20.9% on information and questioned subsequent week’s quarterly experiences from Fb and Twitter, social media corporations that rely closely on advert income.

The apple rose 0.2%. Different development shares together with Tesla Inc, Microsoft Corp and Netflix Inc additionally rose, limiting declines within the Nasdaq 100 e-minis.

As of 6:47 a.m. ET, Dow e-minis had been up 33 factors, or 0.09%, S&P 500 e-minis had been up 3.5 factors, or 0.08%, and e-minis Nasdaq 100 had been down 26.75 factors, or 0.17%.

Mattel Inc jumped 8.2% after elevating its 2021 gross sales forecast on Thursday, saying it will overcome industry-wide delivery disruptions.

Honeywell Worldwide Inc fell 2.1% after the economic conglomerate slashed full-year gross sales and adjusted revenue steering attributable to disruptions within the world provide chain.

(Reporting by Shreyashi Sanyal in Bangalore; Modifying by Arun Koyyur)

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