Intel tumbles in premarket; Hasbro, Chevron also down By Investing.com

By Geoffrey Smith

Investing.com — Stocks in focus in premarket trade on Friday, 27th January. Please refresh for updates.

• Intel (NASDAQ:) stock slumped 9.8% after the chipmaker a wider-than-expected loss in the fourth quarter as demand from the electronics sector weakened sharply. PC shipments, a core segment for Intel, are expected to be weak again this year and Intel expects another drop in sales and a further loss in the current quarter.
• Advanced Micro Devices (NASDAQ:) stock – another chipmaker exposed heavily to the PC sector – fell 2.3% in sympathy with Intel, while Nvidia (NASDAQ:) stock fell 1.4%.
• Chevron (NYSE:) stock fell 1.3% after the oil and gas giant for its fourth quarter profit by around 7%, slightly taking the gloss off its mammoth $75 billion buyback announcement on Wednesday.
• Luxury stocks Hermes International (OTC:) and Christian Dior (OTC:) rose to new all-time highs after a decent outlook from sector leader LVMH late on Thursday. LVMH (OTC:) said revenue growth slowed in the fourth quarter but was still up 9% from a year earlier. missed expectations slightly, pushing LVMH (EPA:) stock down 0.8% in Paris.
• American Express (NYSE:) stock rose 6.6% after the credit card company profited from a rebound in corporate spending on travel and entertainment in the fourth quarter.
• Hasbro (NASDAQ:) stock fell 6.2% after the company said it expects to cut around 1,000 jobs in response to weaker demand for its toys and games.
• Visa (NYSE:) stock rose 1.4%, after a modest beat on expectations for both top and bottom line in the fourth quarter.