Top Midday Stories: Intel Shares Fall on Downbeat Earnings Outlook; Chinese Tech Firms Clear Regulatory Hurdle for Buying Nvidia Chips

MT Newswires Live00:28

US stocks were mixed in late-morning trading Friday after a two-day rally stemming from an easing of geopolitical tensions over the United States' bid to acquire Greenland.

In company news, Intel (INTC) reported fiscal Q4 adjusted earnings late Thursday of $0.15 per diluted share, up from $0.13 a year earlier and above the FactSet consensus analyst estimate of $0.08. Fiscal Q4 revenue was $13.67 billion, down from $14.26 billion a year ago but above the FactSet consensus of $13.44 billion. For fiscal Q1, the company said it expects breakeven EPS on revenue of $11.70 billion to $12.70 billion. Analysts polled by FactSet expect EPS of $0.06 on revenue of $12.57 billion. Intel shares were down about 16% around midday.

Alibaba Group (BABA), Tencent Holdings and ByteDance recently received in-principle approval from Chinese regulators to take the next steps in preparation for the purchase of Nvidia's (NVDA) H200 artificial intelligence chips, Bloomberg reported Friday, citing people familiar with the matter. Alibaba shares were down 2.3%, while Nvidia shares were up 1.6%.

Capital One Financial (COF) agreed to buy AI-powered financial software platform Brex for $5.15 billion in cash and stock. The consideration includes $2.75 billion in cash and 10.6 million shares, Capital One said Thursday in a regulatory filing. Capital One shares were down 6.5%.

Microsoft (MSFT) said Friday it has restored access to its Microsoft 365 productivity services following a widespread outage. Microsoft shares were up 3.7%.

Booz Allen Hamilton (BAH) reported fiscal Q3 adjusted earnings Friday of $1.77 per diluted share, up from $1.55 a year earlier and above the FactSet consensus estimate of $1.29. Fiscal Q3 revenue was $2.62 billion, down from $2.92 billion a year ago and below the FactSet consensus of $2.75 billion. For fiscal 2026, the defense contractor raised its adjusted EPS guidance to a range of $5.95 to $6.15 from $5.45 to $5.65. Analysts polled by FactSet expect $5.62. Fiscal 2026 revenue is now expected to be between $11.3 billion and $11.4 billion, compared to the previous guidance range of $11.3 billion to $11.5 billion. Analysts expect $11.40 billion. Booz Allen shares were up 9.5%.

Price: 45.91, Change: -8.41, Percent Change: -15.48

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