Shares of Intel Corporation (NASDAQ:INTC) ended Wednesday session in green amid volatile trading. The shares closed up +0.26 points or 0.70% at $37.44 with 19.02 million shares getting traded. Post opening the session at $37.31, the shares hit an intraday low of $36.63 and an intraday high of $37.50 and the price vacillated in this range throughout the day. The company has a market cap of $179.69 billion and the numbers of outstanding shares have been calculated to be 4.73 billion shares.
On September 16, 2016 Intel Corporation announced that third-quarter revenue is expected to be above the company’s previous outlook. The company now expects third-quarter revenue to be $15.6 billion, plus or minus $300 million, as compared to the previous range of $14.9 billion, plus or minus $500 million. The increase in revenue is primarily driven by replenishment of PC supply chain inventory. The company is also seeing some signs of improving PC demand.
The company is forecasting the mid-point of the third-quarter GAAP gross margin range at 62 percent, plus or minus a couple of points, up 2 points versus the prior third-quarter GAAP outlook gross margin midpoint of 60 percent, driven mostly by higher PC unit volume. The midpoint of the third-quarter non-GAAP gross margin range is now forecasted at 63 percent, plus or minus a couple of points, up 1 point versus the prior third-quarter non-GAAP outlook gross margin midpoint of 62 percent.
Third-quarter R&D plus MG&A spending is expected to be approximately $5.2 billion, $100 million higher than the prior expectation of approximately $5.1 billion. Third-quarter gains and losses from equity investments and interest and other income are expected to be a net loss of approximately $125 million, as compared to the prior expectation of a net loss of approximately $75 million. The tax rate for the third quarter is expected to be 22 percent, as compared to the prior expectation of 21 percent.
Shares of Verizon Communications Inc. (NYSE:VZ) ended Wednesday session in red amid volatile trading. The shares closed down -0.43 points or -0.82% at $52.06 with 13.28 million shares getting traded. Post opening the session at $52.31, the shares hit an intraday low of $51.81 and an intraday high of $52.44 and the price vacillated in this range throughout the day. The company has a market cap of $213.60 billion and the numbers of outstanding shares have been calculated to be 4.08 billion shares.
On Sept. 28, 2016 Verizon’s Fios TV customers now have even more high definition college sports games at their fingertips across multiple platforms with the launch of ESPN College Extra in HD on Fios TV. Available on channels 821-828, ESPN College Extra delivers up to 15 out-of-market college football games each week as well as the best of college basketball and other sports. Fios is the first telco or cable provider to carry these channels in HD.
ESPN College Extra is available to Fios TV Sports Pass and Ultimate HD customers.
“Whether you’re at home or on the go, college football fans don’t have to miss a single snap,” said Ben Grad, executive director, content strategy and acquisition, Verizon. “We’ve made unrivaled investments in our content platforms that enable us to deliver these live games wherever you are. We’re lucky to work with programmers like ESPN to make this multiplatform distribution possible.”