Shares of Intel Corporation INTC plummeted sharply during Friday’s session. Intel reported positive results for its fourth quarter. However, the company offered a bleak forecast for the first quarter.
The company projects first quarter revenue in a range of $12.2 billion to $13.2 billion, falling short of the Street estimate of $14.2 billion. Similarly, Intel anticipates first quarter earnings per share to reach only 13 cents, notably lower than the 33 cents per share expected by the Street.
As a repercussion, Intel shares tumbled 10.7% to $44.23 on Friday.
Here are vital highlights of other stocks that were on the move during Friday’s mid-day session.
Gains and Surges
- Corbus Pharmaceuticals Holdings, Inc. CRBP rocketed 146% to $20.76 after the company unveiled data from the first-in-human clinical study of CRB-701 being presented at ASCO GU 2024.
- Inspire Veterinary Partners, Inc. IVP surged 121% to $0.4220 after leaping over 22% on Thursday.
- Aclarion, Inc. ACON shares climbed 69.7% to $3.1650.
Declines
- Richtech Robotics Inc. RR shares fell 67.8% to $3.1850.
- Yoshitsu Co., Ltd TKLF shares declined 58.8% to $0.3230 after the company announced a $4.0 million registered direct offering and private placement.
- YanGuFang International Group Co., Ltd. YGF plunged 35.8% to $0.68.
Markets Tumble as Several Stocks Plummet
Widespread Panic Sweeps Across the Markets
- Planet Image International Limited YIBO nosedived 25% to $2.09.
- Professional Diversity Network, Inc. IPDN plummeted 25% to $2.2501
- Processa Pharmaceuticals, Inc. PCSA dipped 24.2% to $3.87 after announcing the pricing of its $7 million public offering.
- Planet Image International Limited YIBO fell 24.1% to $2.1176 after a harrowing 30% dip on Thursday. Planet Image International set its initial public offering of 1.25 million ordinary shares at $4 per share.
- Mobilicom Limited MOB plummeted 23% to $1.3995 after announcing a $2.95 million registered direct offering.
- American Rebel Holdings, Inc. AREB shares tumbled 21.3% to $0.2950 after a dramatic 41% surge on Thursday.
- Jin Medical International Ltd. ZJYL fell 20.3% to $220.00.
- Revelation Biosciences, Inc. REVB nosedived 18% to $8.53 after a 13% decline on Thursday.
- Sagimet Biosciences Inc. SGMT shares declined 17.8% to $11.53. Sagimet Biosciences priced a public offering of 9 million Series A common stock at $12.50 per share.
- Spirit Airlines, Inc. SAVE fell 16.2% to $6.05 after being informed by JetBlue that certain conditions to closing the planned merger may not be satisfied prior to the dates set forth in the agreement and that the merger may be terminable after Jan. 28.
- C3is Inc. CISS declined 13.5% to $0.1384 after gaining over 20% on Thursday. C3is recently announced pricing of its $7 million upsized underwritten public offering.
- Longboard Pharmaceuticals, Inc. LBPH fell 10.7% to $23.20.
- Intelligent Bio Solutions Inc. INBS shares fell 8.5% to $0.2060 after announcing a 1-for-12 reverse stock split.
- Financial Institutions, Inc. FISI fell 7.6% to $21.25 following weak quarterly results.
- Roadzen, Inc. RDZN fell 5.8% to $5.13.
- KLA Corporation KLAC shares declined 5.3% to $607.74 after reporting second-quarter financial results and issuing third-quarter guidance.
- Badger Meter, Inc. BMI fell 4.6% to $145.30 following fourth-quarter results.
- Western Digital Corporation WDC shares dipped 2.9% to $58.61. Western Digital reported better-than-expected earnings and sales results for its second quarter.
