Today's Stocks Selling Off: Intel, Biomarin, Textron

Among the semiconductor leaders in CPUs and GPUs, Intel (INTC) is falling behind AMD and Nvidia (NVDA). INTC will fall by around 8% today after posting weak results and issuing disappointing guidance.

In Q1, the firm earned only 18 cents a share on $12.7 billion in revenue. As it transitions its reporting structure to focus on its foundry business, shareholders may push Intel to spin off the unit. Mobileye (MBLY) was a drag on results as revenue fell by 48% to $239 million.

Intel expects revenue of $12.5 billion to $13.5 billion in Q2. Analysts expected at least $13.6 billion.

In the biotech sector, BioMarin Pharmaceutical (BMRN) may continue falling after losing 9.9% yesterday. It posted a non-GAAP EPS of 71 cents. Despite reaffirming its guidance, markets will worry about increases in operating expenses.

Textron (TXT), an industrial conglomerate, may add to yesterday’s 9.69% stock price drop. The firm posted revenue of $3.13 billion, up by 3.6% Y/Y. Non-GAAP EPS in Q1 was $1.20. CEO Scott Donnelly said that its Aviation unit benefited from strong market demand. This added to $177 million in backlog growth.

Textron’s FLRAA – Future Long Range Assault – aircraft is revolutionary for the army. It will drive revenue growth in future years.

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