Intel Corporation’s shares plummeted on Friday’s mid-day session despite reporting upbeat results for the fourth quarter. However, its weak forecast for the first quarter had investors reeling.
The company’s projected first quarter revenue fell below expectations, coming in at $12.2 billion to $13.2 billion, which is shy of the Street’s estimate of $14.2 billion. Intel also foresees first quarter earnings per share hitting 13 cents, notably lower than the Street’s estimate of 33 cents per share.
Intel shares dipped 10.7% to $44.23 on Friday.
Here’s a roundup of other stocks that made notable moves in today’s mid-day session.
Winners
- Corbus Pharmaceuticals Holdings, Inc. CRBP surged 146% to $20.76 after the company announced promising data from the first-in-human clinical study of CRB-701.
- Inspire Veterinary Partners, Inc. IVP soared 121% to $0.4220 after an impressive 22% gain on the previous day.
- Richtech Robotics Inc. RR shares fell 67.8% to $3.1850.
- Yoshitsu Co., Ltd TKLF shares plunged 58.8% to $0.3230 after announcing a $4.0 million registered direct offering and private placement.
Losers
Sinking Stocks: Market Plunge Sends Shockwaves
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Significant Freefall
International Limited YIBO plummeted 25% to $2.09.
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Market Turbulence
Professional Diversity Network, Inc. IPDN tumbled 25% to $2.2501.
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Pharmaceutical Woes
Processa Pharmaceuticals, Inc. PCSA experienced a sharp 24.2% decline to $3.87 after announcing pricing of its $7 million public offering.
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Public Offering Fallout
Planet Image International Limited YIBO suffered a 24.1% drop to $2.1176 after a 30% dip on Thursday. The company priced its initial public offering of 1.25 million ordinary shares at $4 per share.
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Company Announcement Impact
Mobilicom Limited MOB nosedived by 23% to $1.3995 following the announcement of a $2.95 million registered direct offering.
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Stock Value Decline
American Rebel Holdings, Inc. AREB shares reeled with a 21.3% drop to $0.2950, after surging over 41% on Thursday.
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Medical Industry Woes
Jin Medical International Ltd. ZJYL fell 20.3% to $220.00.
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Biotechnology Setback
Revelation Biosciences, Inc. REVB declined by 18% to $8.53, after experiencing a 13% dip on Thursday.
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Stock Offering Impact
Sagimet Biosciences Inc. SGMT shares slumped by 17.8% to $11.53. Sagimet Biosciences priced its public offering of 9 million Series A common stock at $12.50 per share.
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Airline Industry Blues
Spirit Airlines, Inc. SAVE suffered a 16.2% decrease to $6.05 after JetBlue communicated to the company that certain conditions to closing the planned merger may not be satisfied by the specified dates in the agreement, and that the merger might be terminable after Jan. 28.
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Financial Downturn
C3is Inc. CISS experienced a 13.5% decline to $0.1384, despite a previous gain of over 20% on Thursday. The company recently introduced pricing of its $7 million upsized underwritten public offering.
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Pharma Industry Decline
Longboard Pharmaceuticals, Inc. LBPH fell 10.7% to $23.20.
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Business Restructure Impact
Intelligent Bio Solutions Inc. INBS shares dropped 8.5% to $0.2060 after the company announced a 1-for-12 reverse stock split.
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Financial Performance Woes
Financial Institutions, Inc. FISI declined by 7.6% to $21.25 following weak quarterly results.
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Roadzen Impact
Roadzen, Inc. RDZN fell 5.8% to $5.13.
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Company Performance Report Impact
KLA Corporation KLAC shares declined by 5.3% to $607.74 after the company released its second-quarter financial results and issued third-quarter guidance.
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Fourth-Quarter Results Impact
Badger Meter, Inc. BMI fell by 4.6% to $145.30 following fourth-quarter results.
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Technology Industry Impact
Western Digital Corporation WDC shares dipped 2.9% to $58.61. Western Digital reported better-than-expected earnings and sales results for its second quarter.
