NEW YORK (
(INTC - Get Report)
shares slumped in pre-market trading on Thursday after the chip maker
its full-year guidance.
Late on Wednesday, the Santa Clara, Calif.-based firm reported earnings of 39 cents a share on $12.81 billion in revenue. Analysts surveyed by
were looking for earnings of 39 cents a share and $12.896 billion in revenue
For the full year, however, Intel reset its guidance, saying it now expects it to be "approximately flat year-on-year, down from prior expectations of low single digit percentage increase."
Intel shares fell 3.02% to $23.42 before market open. The chip maker was also one of the most active pre-market Nasdaq stocks on share volume of 2,485,806.
(EBAY - Get Report)
was an even bigger loser, falling 6.85% to $53.45 on
shares, however, gained 1.71% to reach $13.10.
(IBM - Get Report)
shares rose 2.13% to $194.55, lifted by the tech giant's
, released after market close on Wednesday.
--Written by James Rogers in New York.