Why Intel Stock Is Jumping Today
Shares of (NASDAQ: INTC) are spiking on Tuesday, up 6.4% as of 1:13 p.m. ET. The move comes as the S 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) were relatively flat.
Intel began laying off employees from one of its operational hubs in Oregon as part of its major cost-cutting efforts.
Intel began laying off employees from its Oregon plant on Monday. The company expects to lay off 500 of its staff from the main fabrication hub in North America. The move is part of the company's efforts to significantly cut costs and is part of a larger 20% reduction in its global workforce.
Source Fool.com
Intel Corp. Stock
€78.19
-0.780%
Our community is currently high on Intel Corp. with 47 Buy predictions and 24 Sell predictions.
On the other hand, the target price of 74 € is below the current price of 78.19 € for Intel Corp., so the potential is actually -5.36%.
