Mixed Trends on Wall Street: Tech and Pharma Giants Report Results as Intel Plunges

In depth

Intel's stock fell about 20% in after-hours trading following the publication of its third-quarter results, in which the company beat its profit forecast, with 52 cents per share compared with an expected 40 cents. The company expects revenue of $15 to $16 billion in the fourth quarter, compared with an expected $17.1 billion.

According to Ynet, the explosion at the Kiryat Gat plant will cost Intel more than half a billion dollars in revenue over two quarters. According to Walla, the plant was shut down for two weeks, and the company expects a slowdown in the computer market in 2027 as well.

Shares of Alphabet, the parent company of Google, fell 13% on Thursday, a decline of about half a trillion dollars in the company's value, according to Kan News. According to Ynet, search revenue missed forecasts for the first time in years.