Intel Plummets, Reddit Plunges, Regeneron Climbs on ‘Exceptional’ 3Q Earnings Beat
On this episode of Stock Movers: - Intel (INTC) shares plummet as much as 30% on Friday, in biggest intraday drop since at least November 1982, after the chipmaker’s outlook was much weaker than expected, due in part to sluggishness in PCs. Morgan Stanley notes that the quarter is a setback for the company and characterizes the PC correction as severe. - Reddit shares plunge. Reddit Inc. had its biggest share drop since its initial public offering after saying it is planning to limit access to its online forums. The company plans to start testing different approaches in markets outside of the US throughout the fourth quarter to get users to register for accounts and deepen engagement. - Regeneron (REGN) shares climb the most intraday since 2022, after the drugmaker reported revenue and adjusted profit for the third quarter that were ahead of Wall Street’s expectations. See omnystudio.com/listener for privacy information.