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

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Finally, investors are happy with what Intel Corp.’s INTC, +10.66% earnings report. The semiconductor maker’s stock rallied 7.4% to pace the Dow Jones Industrial Average’s DJIA, +2.59% 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.

This article was originally published by Marketwatch.com. Read the original article here.

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