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Sales to data centers that power mobile and web apps, which bring more profit than chips for personal computers, rose 26.9 percent to $5.55 billion in the second quarter ended June 30. Intel has been increasingly catering to data centers as revenue from PCs has flattened since shipments peaked in 2011. "We believe performance within Intel's data center business largely dictates the performance in the shares and view the slight miss versus consensus as a negative," said CFRA Research analyst Angelo Zino.
Despite sagging sales for Amgen's cash cow, a handful of younger drugs kept the needle moving forward.
Chipotle shares, which have soared over 56 percent this year, mainly buoyed by optimism around its new CEO, rose 6.3 percent in extended trading. The company has pulled off a successful hike in prices at a time when fast-food chains are relying on low-price value menus to boost sales and market share. Chipotle made a rare addition to its menu last year with queso cheese, but was met with bland reviews with some Twitter users calling it a "crime against cheese", forcing the company to tweak the recipe.
Western Digital (WDC) delivered earnings and revenue surprises of 2.56% and 1.20%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
China's regulators said it's unfortunate that Qualcomm Inc. decided to scrap its $44 billion bid to acquire rival chipmaker NXP Semiconductors NV, a surprise statement a day after the two companies abandoned their deal because they hadn't received regulatory approval by a deadline Wednesday. China's State Administration for Market Regulation said its deadline for the current Qualcomm review is Aug. 15, with an extended deadline of Oct. 14. The statements appear to be aimed at shifting blame for the deal's failure to the companies, though Qualcomm and NXP said the reason was China's failure to give clearance more than 20 months after the deal's announcement.
Western Digital (NASDAQ:WDC) reported its latest quarterly earnings results late in the day Thursday, which topped analysts' expectations but shares still fell slightly after hours. For its fourth quarter of fiscal 2019, the computer data storage company impressed by bringing in adjusted earnings of $1.1 billion, ahead of the $881 million that it brought in during the year-ago quarter. The company's bottom line tallied up to $756 million for its fourth quarter, or $2.46 per share.
