NVID Replaces INTC In The Dow; Sherwin-Williams Replaces Dow -- November 2, 2024

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I watched the entire Pat Gelsinger interview on CNBC  yesterday (? -- I lose track of time) -- and I don't recall Pat mentioning this. Wow. Link here.

And, Schwab is going to 22-hour trading and the NYSE is going to 24-hour trading, or something to that effect. I don't know the details; saw the headlines some days ago.

Exciting times.

 

From Tom's Hardware:

Intel unveiled its financial results for the third quarter of 2024 on Thursday. While the company's revenue beat expectations and totaled $13.3 billion, Intel took massive impairment and restructuring charges and reported a huge $16.6 billion loss. Surprisingly, the company's stock initially jumped up to 12% on the news, though that was closer to an 7% gain at press time.  

Intel's revenue reached $13.3 billion, down 6% year-over-year but up $0.5 billion from the previous quarter. The company's net loss totaled an unprecedented $16.6 billion due to massive impairment and restructuring charges and substantial losses by the manufacturing unit. Intel's gross margin dropped to 15%, a historical minimum for the company. 

Intel's products group reported profits and generated revenues of around $12.997 billion. The company's Foundry unit earned $4.4 billion, up slightly from $4.3 billion in the previous quarter but down from $4.7 billion from the same quarter a year ago. However, the chip production unit lost a whopping $5.8 billion.

Just wait until they start building those foundries in Ohio.