Intel Stock Rises on Report That It Might Sell a Stake in Its Altera Business

19 minutes ago

Intel (INTC) shares rose Friday, lifted by indications that it is looking for a big outside investment in its Altera programmable chipmaking unit.

CNBC late Thursday reported that the company is looking to sell a minority stake in Altera that values the business about $17 billion. Intel purchased Altera in 2015 for $16.7 billion, launching it as a standalone company in February, with the intention of spinning it off in an initial public offering (IPO).

CNBC noted that the company has reached out to several private equity and strategic investors this week about Altera. It added that Intel even discussed the possibility those investors could take a majority stake in the business. 

Intel has been taking steps to try to shore up its finances, including exploring sales of some of its various divisions, although none has come to fruition. The stock, recently up about 1%, has lost more than half of its value this year.

Intel declined to comment when contacted by Investopedia.

-Bill McColl

Strong Surgical Robot Sales Send Intuitive Surgical Stock to Record High

1 hr 16 min ago

Shares of Intuitive Surgical (ISRG) hit an all-time high Friday, a day after the medical device maker posted better-than-expected results on more use of its da Vinci minimally invasive surgical devices.

The company reported third-quarter adjusted earnings per share (EPS) of $1.84, with revenue advancing 17% year-over-year to $2.04 billion. Both exceeded consensus estimates of analysts polled by Visible Alpha.

The number of da Vinci procedures worldwide increased 18%, helping to drive instruments and accessories sales to $1.26 billion. Intuitive Surgical installed 379 da Vinci units in the quarter, 67 more than the same period a year ago, with 110 of those its new da Vinci 5.

Intuitive Surgical shares surged more than 8% to $515 after touching a record $517.61 soon after markets opened Friday. They are up more than 50% year-to-date.

-Bill McColl

Apple Shares Rise on Reports of Improved Chinese iPhone Sales

2 hr 8 min ago

Apple (AAPL) stock was trading near a record high on Friday amid reports that the iPhone 16 has outsold its predecessor in China by 20% in the three weeks since its release.

What's more, sales of the more expensive Pro and Pro Max models are up 44% this cycle, per Counterpoint Research data cited by Bloomberg.

The improved performance in China is due in part to production issues that plagued the iPhone 15 rollout a year ago and likely impacted early sales, Counterpoint analyst Ivan Lam noted, according to the report. Additionally, the iPhone 15 faced competition from Chinese rival Huawei's Mate 60 device.

There had been some concern among analysts that the iPhone 16, which Apple has heralded as the first built around Apple Intelligence, would struggle in China due to the lack of a partner in the country to power its artificial intelligence features, Bloomberg reported. Now, Wedbush analysts believe Apple could sell more than 240 million iPhones in fiscal 2025, with 100 million Chinese iPhones in the window of an upgrade next year.

Apple shares were up more than 1% at $235 around midday Friday, just shy of their all-time high reached Tuesday when the company unveiled its new iPad mini.

-Andrew Kessel

CVS Stock Plummets Amid CEO Shake-up, Grim Outlook

3 hr 4 min ago

CVS Health (CVS) stock tumbled about 8% Friday morning after the pharmacy and healthcare giant announced the replacement of Chief Executive Officer (CEO) Karen Lynch with David Joyner, a longtime company veteran who most recently ran Caremark, its pharmacy benefit manager (PBM).

Joyner is taking the top job effective immediately, CVS said, as the company has weathered a difficult year of sales at its namesake pharmacies and problems with its bets on Medicare coverage that have led it to lower its full-year outlook several times already.

In addition to the CEO swap, CVS also provided preliminary guidance for third-quarter profit, projecting earnings per share (EPS) between 3 cents and 8 cents, and adjusted EPS of $1.05 to $1.10. Analysts are expecting EPS of $1.27, and adjusted EPS of $1.69, according to consensus estimates compiled by Visible Alpha.

With Friday's losses, CVS shares have shed about 26% of their value since the start of the year.

-Aaron McDade

Netflix Stock Surges to All-Time High on Strong Earnings, Outlook

4 hr 7 min ago

Netflix (NFLX) reported third-quarter results that topped analysts’ estimates on the top and bottom lines, sending its shares soaring to a record high on Friday morning.

The streaming giant posted third-quarter revenue of $9.83 billion, up 15% from a year ago and above the analyst consensus from Visible Alpha. Net income came in at $2.36 billion or $5.40 per share, compared to $1.68 billion or $3.73 per share a year earlier, also beating projections. Total active subscribers climbed 14% to 282.72 million, just above Street expectations though the pace of growth slowed from the prior two quarters.

The company said it expects full-year revenue to grow 15% year-over-year, at the higher end of its previously announced range.

Shares of Netflix, which were up over 41% for the year through Thursday's close, rose more than 9% in early trading Friday.

-Andrew Kessel

Stock Futures Mixed as Dow Retreats From Record High

5 hr 2 min ago

Futures contracts connected to the Dow Jones Industrial Average were off about 0.2% in premarket trading on Friday.

S&P 500 futures were up 0.2%.

Nasdaq 100 futures got a boost from surging Netflix stock, rising about 0.6% Friday morning.

Article Sources Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

1. U.S. Census Bureau. "Monthly New Residential Construction, September 2024."

2. CNBC.  “Intel seeks billions for minority stake in Altera business, sources say.”

3. Intuitive Surgical. "Intuitive Announces Third Quarter Earnings."

4. Bloomberg. “IPhone 16 Sales Soar 20% in China Debut as Demand Returns.”

5. Wedbush. “Apple (AAPL). iPhone Sales in China Robust; The Renaissance of Growth Has Begun for Cupertino.”

6. CVS Health. "CVS Health Appoints David Joyner President and Chief Executive Officer."

7. Netflix. “Q3 24 Shareholder Letter.”

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