Intel’s stock plunges as work on new computer chip bogs down

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SAN RAMON, Calif. (AP) — Intel is falling further behind in the race to build faster and more powerful computer chips, a nagging problem that may force the Silicon Valley pioneer to seek help from other manufacturers as it scrambles to catch up in the technological arms race.

The sobering news emerged late Thursday when Intel disclosed that there will be a six-month to one-year delay on its development of a next-generation chip-making process already in use by a major Taiwan supplier, TSMC.

The unexpected snag means Intel’s 7-nanometer processing technology won’t be ready until the end of 2022 or early 2023, raising the possibility that other chip makers will already have taken another leap ahead.

Intel’s stock plunged 16% in Friday’s afternoon trading as investors adjusted to the tectonic shifts that have transformed Intel from a trailblazer to a laggard in an area of technology that it dominated for

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Crypto’s $35T Moment Could Come From Analog-World Stock Listings

The stock market isn’t usually considered an ally of cryptocurrencies, but with the big U.S. exchange Coinbase now rumored to be considering a share listing, some digital-asset industry insiders say a move toward more public ownership could accelerate mainstream adoption. 

By becoming publicly traded, cryptocurrency-focused companies could appeal to investors in the $35 trillion U.S. stock market. Back-of-the-envelope math shows that just a 1% allocation into crypto stocks could mean $350 billion of new investments for companies in the space. Compare that with the $287 billion total market value of digital-asset markets, and suddenly there’s a lot more capital going into the industry, even if it’s not directly into cryptocurrencies. 

You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in

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Box (BOX) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, Box (BOX) closed at $19.03, marking a +1.12% move from the previous day. The stock outpaced the S&P 500’s daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.59%.

Prior to today’s trading, shares of the online storage provider had lost 0.79% over the past month. This has lagged the Computer and Technology sector’s gain of 8.52% and the S&P 500’s gain of 5.26% in that time.

Wall Street will be looking for positivity from BOX as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $189.44 million, up 9.79% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.50 per share and revenue of $764.60 million. These totals would mark changes of +1566.67% and +9.81%, respectively, from last year.

It is

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Etsy (ETSY) Stock Sinks As Market Gains: What You Should Know

Etsy (ETSY) closed the most recent trading day at $101.97, moving -1.71% from the previous trading session. This change lagged the S&P 500’s 0.91% gain on the day. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 0.59%.

Coming into today, shares of the online crafts marketplace had gained 22.7% in the past month. In that same time, the Computer and Technology sector gained 8.52%, while the S&P 500 gained 5.26%.

ETSY will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.40, up 185.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $327.60 million, up 80.89% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.11 per share and revenue of $1.18 billion, which would represent changes of +46.05% and

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Wayfair (W) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Wayfair (W) closed at $217.92, marking a -1.04% move from the previous day. This move lagged the S&P 500’s daily gain of 0.91%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 0.59%.

Heading into today, shares of the online home goods retailer had gained 14.72% over the past month, outpacing the Retail-Wholesale sector’s gain of 11.98% and the S&P 500’s gain of 5.26% in that time.

Wall Street will be looking for positivity from W as it approaches its next earnings report date. This is expected to be August 5, 2020. On that day, W is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 165.93%. Meanwhile, our latest consensus estimate is calling for revenue of $3.95 billion, up 68.58% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings

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Amazon (AMZN) Stock Sinks As Market Gains: What You Should Know

Amazon (AMZN) closed at $3,084 in the latest trading session, marking a -0.64% move from the prior day. This change lagged the S&P 500’s daily gain of 1.34%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 0.94%.

Coming into today, shares of the online retailer had gained 20.65% in the past month. In that same time, the Retail-Wholesale sector gained 11.54%, while the S&P 500 gained 3.92%.

AMZN will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.70, down 67.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $81.28 billion, up 28.19% from the prior-year quarter.

AMZN’s full-year Zacks Consensus Estimates are calling for earnings of $20.08 per share and revenue of $349.44 billion. These results would represent year-over-year changes of -12.73% and +24.57%, respectively.

Any recent changes to analyst

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Chegg (CHGG) Stock Sinks As Market Gains: What You Should Know

Chegg (CHGG) closed the most recent trading day at $69.20, moving -1.79% from the previous trading session. This move lagged the S&P 500’s daily gain of 1.34%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 0.94%.

Heading into today, shares of the provider of online textbook rental services had gained 18.68% over the past month, outpacing the Computer and Technology sector’s gain of 7.45% and the S&P 500’s gain of 3.92% in that time.

Wall Street will be looking for positivity from CHGG as it approaches its next earnings report date. This is expected to be August 3, 2020. In that report, analysts expect CHGG to post earnings of $0.34 per share. This would mark year-over-year growth of 47.83%. Meanwhile, our latest consensus estimate is calling for revenue of $136.76 million, up 45.7% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts

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China State Funds Start Selling in Warning Sign for Stock Rally

(Bloomberg) — China acted to cool the speculative frenzy in its $9.5 trillion stock market, ending a euphoric eight-day surge that had fueled worries of a new bubble in the making.

Signs of Beijing’s unease over the rally’s speed emerged late Thursday, when a pair of government-owned funds announced plans to trim holdings of stocks that soared this week. On Friday the state-run China Economic Times warned about the dangers of a “crazy” bull market, while Caixin reported that regulators had asked mutual fund companies to cap the size of new products.

Traders said the moves amounted to a warning from Chinese officialdom that the country’s world-beating equity boom has gone too far, too fast. While cheerleading from state-run media helped ignite gains at the end of last month, authorities appear keen to engineer a steady bull market rather than a repeat of the bubble that ended in a $5

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Chegg (CHGG) Stock Moves -0.04%: What You Should Know

Chegg (CHGG) closed the most recent trading day at $71.24, moving -0.04% from the previous trading session. This change was narrower than the S&P 500’s daily loss of 1.08%. At the same time, the Dow lost 1.51%, and the tech-heavy Nasdaq lost 0.86%.

Heading into today, shares of the provider of online textbook rental services had gained 23.43% over the past month, outpacing the Computer and Technology sector’s gain of 5.89% and the S&P 500’s loss of 0.3% in that time.

Investors will be hoping for strength from CHGG as it approaches its next earnings release. In that report, analysts expect CHGG to post earnings of $0.34 per share. This would mark year-over-year growth of 47.83%. Our most recent consensus estimate is calling for quarterly revenue of $136.76 million, up 45.7% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of

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Old Bay’s Limited-Edition Hot Sauce Is Back In Stock After Selling Out Almost Instantly

Photo credit: Old Bay - Instagram
Photo credit: Old Bay – Instagram

From Delish

Update, June 29, 2020 4:58 p.m.: After a few Old Bay hot sauce-less months for many of us, the brand recently announced that it has restocked, meaning you can now get your hands on a bottle again.

Yes, this limited-edition Old Bay Hot Sauce is available online while supplies last via their website. In fact, you can get a two-pack of the sauce for $8.95, which is so reasonable I could cry.

In case you need inspiration, they recommend putting it on things like cocktails, lettuce wedge salads, pasta and potato salads, fried chicken, crab cakes, and dips, but let’s be real, we’re putting it on everythinggggg.

Original, January 29, 2020 2:30 p.m.: If you’ve tried Old Bay, you know that it is a seasoning sent straight from heaven above to make things like fries, seafood, burgers, you name it, taste so

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