Intel's Foundry Business

And, Cal-Maine's record egg sales.

Today is Wednesday, April 3, 2024.

The Early Bird Index today is 72.56.

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Intel's Foundry Business

Technology company Intel (Nasdaq: INTC) fell by 4.16% in after-hours trading on Tuesday after disclosing financial details for its foundry business.

Details: Intel presented a new financial reporting structure that separates the details for its foundry business, which is used to manufacture semiconductors, away from the main business. Intel wants to stand out in the crowded semiconductor industry as it continues to make its chips and make chips for other companies.

Quote: “Intel Foundry is the world’s first systems foundry for the AI era, offering full-stack optimization from the factory network to software.” - Intel’s press release.

Financials: Intel’s foundry business reported a $7 billion loss. The year before that, the foundry business lost $5.2 billion. Tuesday was the first time that Intel disclosed financials for the foundry business.

Also: The company expects the foundry unit to lose money in 2024 and then it will break even before 2030.

Price: Intel was down 8% in 2024 before these results.

Final Thoughts: Intel is considered a value stock in the semiconductor industry as it lags behind competitors.


Notable Earnings Today:  Levi Strauss (NYSE: LEVI), Acuity Brands (NYSE: AYI), Simulations Plus (Nasdaq: SLP), Sportsman's Warehouse (Nasdaq: SPWH), Resources Connection (Nasdaq: RGP), Blackberry (NYSE: BB), BiomX (NYSE American: PHGE), Icecure Medical (Nasdaq: ICCM).

Notable IPOs Today: N/A.

Notable Equity Crowdfunding Campaigns Ending Today: Black Kahawa Coffee (Honeycomb), Plum and Mule Community Market (Honeycomb).

Notable Economic Events Today: ADP Nonfarm Employment Change (8:15 a.m. ET), S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing Prices / PMI / Employment (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET).

Cal-Maine's Record Egg Sales

After reporting strong financial results, egg producer Cal-Maine Foods (Nasdaq: CALM) jumped 7.03% in after-hours trading on Tuesday.

Financials: Cal-Maine Foods reported earnings of $3.01 per share in the past quarter and revenue of $703.1 million; both were better than expected.

Details: Sales improved 3.2% year-over-year as Cal-Maine reported a record quarterly sales volume.

Background: Cal-Maine has achieved this in the backdrop of avian flu in 2023, which caused egg prices to rise.

Also: Earlier Tuesday, the company reported that a Texas facility tested positive for highly pathogenic avian influenza.

Stock Price: Cal-Maine was up 3.93% in 2024 before these results. The avian flu is still an issue, but the company’s financials are better now than months ago.

Litecoin Jumps Following Mobile Upgrade

The cryptocurrency Litecoin jumped 7% on Tuesday thanks to a recent mobile upgrade in the past week.

Final Thoughts: Litecoin performed better than most cryptos on Tuesday.

Back for More: Boxabl Files for New Reg A+ Offering (Crowdfund Insider)

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.