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Stocks close higher Friday, Nasdaq posts fourth week of gains - CNBC

Stocks close higher Friday, Nasdaq posts fourth week of gains - CNBC

Stocks close higher Friday, Nasdaq posts fourth week of gains - CNBC
Jan 27, 2023 1 min, 5 secs

"While the company is committed to a cost reduction plan of $8.0-$10.0 billion by 2025, it doesn't help the core manufacturing problem and we believe Intel's ongoing investments on growth markets may not perform as expected," he added.

"Although we believe RL has among the group's strongest brand/management team who essentially architected the Sell Less, Charge More strategy, shares are almost back to pandemic-peaks despite lowered results," analyst Simeon Siegel wrote in a client note.

"We continue to see China-related risk as the most significant for the stock and expect the company to accelerate its effort to diversify its footprint," wrote analyst Tom Forte in a note to clients this week.

The core personal consumption price expenditures index, which the Federal Reserve considers a key inflation gauge, rose by 4.4% from a year ago in December, the Commerce Department reported Friday.

Intel — The chipmaker suffered a 9% loss in its shares in early morning trading after its latest financial results missed analysts' estimates and showed significant declines in the company's sales, profit and gross margin.

"No words can portray or explain the historic collapse of Intel, with management attempting to blame a worst-ever PC inventory digestion dynamic and macro/China/enterprise to an over 20% q/q decline in sales," wrote Rosenblatt's Hans Mosesmann, who rates the stock a sell.

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