The Night Watch: Horror Show for Tech Stocks
Updated from 5:12 p.m. EDT
The extra session turned hideous, especially for technology stocks, compounding the pain the major averages inflicted on investors during regular trading.
The culprit was Intel (INTC), which lowered its revenue guidance for the second quarter. The chipmaker now expects a top line of $6.2 billion to $6.5 billion, a range well below analysts' estimates.
Shares of Intel were falling 10% to $24.30 after the company offered its guidance.Intel tried to soothe Wall Street by saying it still expects a stronger second half of the year, but no one cared. From the looks of it, the broader market and tech shares in particular could be in for a rough session Friday. That's not what investors want to hear of course, especially after the regular session Thursday in which the
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