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Intel stock set to snap 9-quarter streak of post-earnings declines

intel-stock-set-to-snap-9-quarter-streak-of-post-earnings-declines

Finally, investors are happy with what Intel Corp.’s INTC, +7.77% earnings report. The semiconductor maker’s stock rallied 7.4% to pace the Dow Jones Industrial Average’s DJIA, +1.20% premarket gainers, after the company reported late Thursday third-quarter profit and revenue that beat expectations and announced plans for layoffs. That would snap a nine-quarter streak in which the stock fell the day after earnings were reported; the last time the stock rose after earnings was after first-quarter results of 2020. During the nine-quarter post-earnings lost streak, the stock had dropped by an average of 9.0%, according to FactSet data. The stock was on track for the best post-earnings performance since it rose 8.1% after fourth-quarter 2019 results.

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