intel's stock popping. reports that intel could be looking to sell part of itself. intel. we've got someone who says the name could be a bigger takeover target. mixed picture on the consumer side. one hand you have ulta beauty more like the beast, it's down 4%. hit on the back of earnings. abercrombie & fitch, a boost, citigroup upgrading the stock to a buy from a neutral and if you haven't been paying attention to the teen or tween retailer, abercrombie, anf, up 65% so far this year. it is one of the hottest stocks of all. all right. this all talk takes us to our talk of the tape. how to play stocks into the year end. here to answer that question or questions, i guarantee there will be more than one, we've got courtney garcia of payne capital at post nine and malcolm eitherridge of cic wealth joining us. looks like d.c. if i recognize our beautiful capitol in the background. both are cnbc contributors. courtney, i feel like we just did this last night. >> we did just do this last night. >> on "fast money." >> i kind of got an idea of where you stand but for any of those s

amazon down 8% and intel plunging 20% in early trading. wait until you see intel.et cap. we're going to show you what those companies reported. >>> plus, two oil majors set to report. we'll bring you reports from chevron and exxon and interviews with ceos of both companies. it's friday, august 2nd, 2024. it's 6:00 one place and andrew is over there and it's like noon. "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. and from paris, france this morning. i'm becky quick along with joe kernen. joe and i are back here. we are in times square. andrew is still at the olympics in paris. w we'll get to him for an update in a moment. andrew, you are lo

we give our example israel intel is our leading semiconductor company and israel, i mean, intel is really in israel only companies at. its yeah, they invented the end degraded circuit but the integrated circuit and the microprocessor but they didn't succeed and supporting intel in its early years and its early years intel was sustained by nonvolatile memory. those are flash is what we call flash memory cell e promises they were that were invented by froman who was an israel who was one of the key figures in the early intel group and all of profits for the first several years of intel from these nonvolatile memories. then establish their leading wafer fab, which is intel's chips. leading edge chips are made you factor out god and of israel and many of their leading microprocessors were designed that there israel design center. of course intel, was an american company. it's also an israeli company. and and google it's, you know, google maps and everything. earth, waze is an is israeli company. that was by google and which makes possible all the features of google maps and google as a side c

that could help intel.n and klein, maybe intel could grab more market share. more recently they saw, for example, when there was a strike -- when this was an issue, a love the laptops were able to come out of that issue quickly, so it has assets that work for them, but the big-picture thing is they're trying to simultaneously compete with the best designers on the planet and trying to keep with the best manufacturing entity, and trying to go around both marathon and sprint at the same time, is very difficult. >> they have come back from something like this before, or is this just completely different? >> i think it's tougher this time around. the irony is that the pc business, as much as, you know there can be recoveries, because they felt they had been manufacturing, a lot of their chips are being manufactured by taiwan semi. as a result, there's a higher unput cost, and their even fabs are not -- it if you look at intel's q2 was in line, the business mick was gross margin because of this shift in where it

given where intel is those reports weren't surprising. from what we could tell from talking to sources, where those came from morn to clear. yes, while the company is vulnerable, looking at the tone gelsinger struck yesterday at the deutsche's conference, it is not clear how to create an immediate impact or upside. none of the options in the story are easy to achieve. if you were looking at the stock this morning you might think you have missed out, but it's a long-term project. >> the stock has been down 56% and is rallying today. maybe the activists are missing the opportunity. perhaps with the stock declining more than 50% this year you could call its entire shareholder base activist. what would fix the problem? >> one of a couple things. we lay out in the story you could spin off product design from foundry operation. foundry is a massive cash suck for any semiconductor player. that project has been central to what gelsinger has been trying to do in the turnaround. he was brought in to fix problems his predecessors laid out under thei

plus, a freefall at intel. shares crater down 26% today as the chipmaker cuts its workforce, halts its dividends and gives the street a grim forecast. how did they go from chip pioneer to industry after-thought? >>> a bruising day after earnings for amazon and a surprising number of bright spots in an otherwise awful day for your money. i'm melissa lee coming to you from the nasdaq. join us on the desk. markets closing off their worst levels of the session with the nasdaq sinking 2.5%. it is now down more than 10% from the all-time high hit just three weeks ago. the s&p down 2% while the dow shed 611 points. the biggest point drop since february 2023. the small cap russell 2000 index leading the losses down more than 3.5%. it is now -- has nearly erased all gains since the great rotation started last month. the consumer discretionary sector, the biggest laggard today with amazon leading those losses after it gave weak guidance for the current quarter. financials and energy stocks also falling. take a look at th

not intel. want to be clear. it's gotten attention. >> so, what i wrote was in other circumstances we would be having those conversations. however f the one silver lining in from -- i think intel will live through. i don't know what kind of a life they will live but they will live through it. here's why. things are going badly. cutting a lot of costs, in survival mode. if you add up the cost savings from a reduced capex from the reduced on equ-exand dividend a cash coming in from the government and partnerships they sold pieces of their -- some of their fabs to private equity and gotten cash in, add all that up, it's probably 40 billion of incremental cash that will be on the balance sheet by the end of 2025, versus had they done nothing. that will probably like keep them alive. they'll be okay. like i'm not worried about growing concerns given all of that. in another world if you didn't have the geopolitical subsidies and everything we would be having a different conversation. i don't know what life they live. >

scott writing to intel, quote, why is intel trying to achievement and these job cuts, and why have billions support to avert this need for layoffs? the commerce department originally estimated that from this taxpayer-funded package that intel was expected to get there would be about 10,000 manufacturing jobs created. but intel is expected to lay off 15,000 people. so any job gain from this taxpayer-funded project that the biden-harris team was hoping for is getting wiped out. cheryl? cheryl: thank you for that lye report from capitol hill -- live report from capitol hill. let's bring in slatestone wealth chief market strategist kenny polcari. we just heard from hillary about another instance of government intervention, this time with intel. the chips act, some argue that this has not been effective and that companies are not going to create those jobs that they had promised, or in intel's example, cut jobs. >> right. and i think that's exactly the point, right? intel's now the poster child of the government getting involved and the government giving them money, and then they go ahead and sl

and amd. indie threat then the shorter ones from intel and amd.- from intel and amd._ from intel and amd. we will have to live there. _ from intel and amd. we will have to live there. thank - from intel and amd. we will i have to live there. thank you. you are welcome. if you are missing the olympics, don't worry. later today the paralympic games officially get under way. the event spans 11 days of elite competition across 22 sports, featuring 4,400 athletes from 128 nations. while many cited the london 2012 games as a watershed moment for the paralympics, can paris 2024 raise the bar forfairer sponsorship in the paralympic games? nicola kemp is editorial director at creativebrief, a marketing intelligence platform. we asked her if the paralympicgames offer a special kind of opportunity for brands? really interesting because there's a huge marketing opportunity here. there's a real sponsorship gap. so this is an opportunity that crosses sectors. you do tend to see the same core sponsors as you do in the olympic games. so we see a lot of automotive brands, like toyota,

and intel in dire straits. the chipmaker closing out a fourth week of losses as the walls close in on a.i. dreams. any hope for a turnaround in this semi stock? next. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. what took you so long? i'm sorry, there was a long line at the thai place. you get the sauce i like? of course! you're the man! i wish. the future isn't scary. not investing in it is. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com ♪ something amazing is happening here. data is bringing creativity to life. that's because cdw showed animation studios new ways to maximize their infrastructure, then built a flexible dell technologies data solution. more automation led to greater efficiency, which means creativity stays the star of the show. make amazing happen. dell technologies and cdw. >>> welcome back to "fast money." get

even a fiercer geopolitical tension with china because intel is largely u.s. manufacturing based relative to a lot of peers. >> well, i think that those macro trends are with them. against them is amd. i think they can make all the chips in the world and yesterday leslie was on, i know the stock is down badly. when i listened to that call, i don't buy the going concern. you know i think it's going lower but when you listen to that call all you think of, carl, is yesterday renee haass in great shape. the day before lisa suh in great shape doing well. this company may be carrying. not carrier. >> carrion, c-a-r-r-i-o-n. >> i didn't mention maga. >> many years as we've mentioned of mismanagement, poor decisions in terms of -- then execution as well. >> you know i thought -- i asked secretary raimondo, is it safe to do business with intel, secretary of commerce. i think everyone felt it was safe and listening to the call thinking, there's a moment, this is the moment where they don't have the business. and the moment where amd is calling michael dell, michael dell

intel has one. explain what dave meant there, please.tacy: they have been clearly over-indexed, almost entirely indexed two cpus. even within cpus they have been losing a tremendous amount of share to their smaller competitor. that has not been good. as the ai boom has happened we have had a shift in the spending patterns away from cpus toward gpu's and other type of fix -- types of accelerators. you could argue, is that a cyclical trend or structural trend? in five years is the data center cpu trend figure or smaller than it is? you could argue that it is smaller, so that is the issue. the problem with intel on that front is, they don't have that much of an ai or accelerator play. they have a product. they said they are going to sell $500 million worth this year. it is effectively a rounding error, right? amd said they are going to do 4.5 billion dollars in data center revenues. nvidia, they might be $100 billion this year. $500 million does not make up anywhere near the air pocket that has happened both as a lost share in cpus and as t

intel -- >> right. and this is the national semiconductor. >> national semiconductor. >> it is our native semiconductor manufacturer, getting money from the united states government. >> getting money. you would think they'd be hiring people in this environment. so, none of this is any good. and look, i'm one of the people that said a couple times, like, you might want to try intel on the long side here for the reasons you just cited. wrong. i mean, they can't get out of their own way. >> by the way, texas instruments in 2011 bought national semiconductor, remember we used to have nsm, that ticker. >> that's right. >> i kind of casually said the same thing a week and a half ago. 30 seemed to be a level. someone was sitting there with deep pockets just buying it, if you pull up that chart. i'm just kind of shocked at the magnitude of this disappointment, and, you know, to have a ceo come out and say that after they've had disappointment after disappointment, mel, i mean, i'm going to steal this from someb

take another look at intel, down 27%. in 50 years, but it was already down 40% this year, going into today's trading. this all came after a weak second quarter result last night. they announced a $10 billion cost savings program that includes thousands of layoffs. john forbes spoke with the ceo. gelsinger said this is what we need to do, this is necessary. but this is from bad to worse with intel. >> on the stock price, this $20 level, that's around -- that's around where the stock has been at the lowest s est levels, inc where it was on an upswing in 1997. so not good. but there are also job cuts happening here, significant, 15% plus. i asked him, well, if you're cutting that much, there has to be entire things that you stop doing, i imagine. what exactly is going to be cut. here's what he said. >> as we have done this clean sheet analysis, we have seen quite a number of areas where i'll just say we're not nimble efficient company. as we look at it through this clean sheet lens, we looked at every area, our gna, sales an

intel explores its options. the chipmaker speaks with investing bankers to navigate the most difficult period in its history. good morning, everybody, and welcome to "bloomberg daybreak: europe." under their big day for u.s. to deal with the pce number coming much later this afternoon. this after some of a pullback for nasdaq. that was led by losses in nvidia which ended the session down more than 6%. trading slightly weaker on the session. the dow did make an all-time high. european stocks futures tilted toward the red seen opening lower to the tune of .2 of 1%. eurozone inflation report coming up today after a weaker than expected spanish and german inflation today yesterday drove some gains in fixed income. ftse 100 also seen opening up in the green, but let's switch over to process at an take a look at how some of these other indicators have been trading. we did see upward pressure on yields yesterday, we ended four basis points higher after a weaker than expected seven year option put some pressure on yield

intel's ceo pat gelsinger spoke to jon fortt about the intel efforts to catch up to the competition.everybody is still pretty focused on their a.i. and accelerate or investments and t cpu portion is modest. we see bread crumbs of enterprise cycles. we see growth there. our products are getting stronger, but the story is one where the data center and cloud is driven by the a.i. investments as the primary ones. we are seeing good, early signs of customers there. we do see some of those benefits. we are not getting the full benefits of those in our business. >> you can see the full interview today on "closing bell overtime." check out the intel effect on the chip stocks. rougher day across the board. nvidia shares down 3.5%. taiwan semiconductor off 4%. same story with samsung electronics. let's get over to stephanie link to get reaction from this. she is the chief investment strategist at hightower advisers and cnbc contributor. steph, what do we think here? this is pretty horrific news for intel, but spreading beyond that. >> yeah, no, it's really bad. the intel expectations were low

intel shares topping. in their best day since october 2022 on news that the chip maker is in talks with bankers, including morgan stanley to address weakness in its core business. earlier this month intel announced they will layoff 15,000 workers after a disastrous earnings report. it sent shares plunging. wow, what do you make of it? >> right. the key s the data point you cited of course is that plunge on earnings, trade 300 million shares, dropping from 30-20. spent the entire month of august going absolutely dead flat. a massive re-rating and a tight consolidation. you are talking a stock that is valum of 50. a big thrust higher with the gap. what i would do is sell puts. that is the news today confirms those lows as descent lows and you can collect premium here and that is how i would play it. just getting along because they want to address their weakness in their core business, they had a weakness in their core business for a long time. talking to a banker will not change that. a big day in the market

lauren: tom's argument is the government needs intel to to compete with taiwan semiconductor, and inteltechnology once again. it's in the middle of this turn-around under ceo pat gelsinger that, quite frankly, isn't working despite the billions in chips fund act they've been getting. bloomberg is reporting heir evaluating their strategy. they're going to do something to change share price being down 60% this year. they could scrap factory projects, they could split their design of those chips from the manufacturing of them. they could sell their foundry business. but this is, no doubt, the toughest period in their 56-year history. we've talked about the job cuts, the poor if earnings report. they're suspending their dividend. stuart: okay. lululemon. they've been under a great deal of pressure recently. they missed on sales, cut their guidance. i guess that's why the stock -- but it's only down a frank. lauren: and it had been higher because the bad numbers are baked in. the stock's been cut in half this year. the problem is they got boring, you know? women go into store, men too, but t

especially not with intel.long-time client for us for over 40 years resilient company. and yes, jim, some things that are in the news right now with regards to where they are, we're bullish. it was a bold move that pat made back in '21 about turning into a foundry. and a lot of that infrastructure is well under way. so we're comfortable -- >> and you feel good about the brookfield tie-up, belt and suspenders >> i think it will still be there. i think what's even more exciting when you think of kind of the chip industry in the u.s. is what's happened with the others if you look at micron or some of the other asian manufacturers that have come here, those fabz are well under way and producing that infrastructure -- >> are you doing the taiwan semi in arizona >> we're not >> because that's gigantic >> it is >> i'm conscious some of these -- there's a lot of them in new york state. they're kind of everywhere >> they are. not just in logic but in memory as well. this is kind of high bandwidth memory i'll give you an

intel is working on a plan b. the bloomberg exclusive on bankers eyeing a potential sale of the foundry division and more cost cuts. ed: elon musk's battle with brazil deepens, threatening social platform x and spacex's starlink business. caroline: tech fights to end the week strong. we have a key cio on the show. let's just dwell on these markets for a moment. we end the month as we started it, on the downside. we had a brutal syllabus on august, and -- brutal sell off to start august. we are trying to make some power higher on this friday, and we have certain things to thank for that. more broadly this is a week we are fixated on one name alone, nvidia. he did not live up to some of the hypo. ed, what are you watching on the micro data? ed: you can never quite get the news flow. intel is up at this point the most since october 2023. the most since october or late 2022. there is a detailed note from bloomberg about basically plan b. clearly the street likes it. caroline: it's bloomberg exclusive reporting, learni

intel shares are up about 41% on year.se ev makers performing pretty well in china after suffering a little bit yesterday. we did see li auto trading significantly lower yesterday but rebounding stronger today, up by 8.8% now. shares connected to chinese vehicle makers, also dealers as well, showing that sound rebound. we've got some commentary from all spring global investment saying that cell down in chinese ev makers after the results was excessive, so we are seeing the market recovery now, despite challenging operating environment, down or pressure on selling prices, these ev makers are showing they can pull several levers that they can resort to. we've gotbyd, which actually had a pretty decent set of numbers yesterday, better by 6%. great wall motor better by 8%. chinese insurers are also among the top gainers that we are seeing today. we've got china pacific insurance better by 6.8%. a positive day all around on the mainland. we got the csi 300 better by, let's see now, about 1.6% at the moment. just a little bit mo

right now the market is looking at intel not just as a mature company but accompanying decline.. it's one thing to take bed bath & beyond or brick-and-mortar or even a tobacco company and say the future looks negative revenue is going to shrink in your revenue is going to go down but intel is in a sector if they can find a pathway i don't see why it cannot go back to being a mature company, not a high-growth i think those days are done there is enough opportunity in the space and intel is enough advantages to turn things around. at this stage if you're investing the judgment that you're making is the management and denial in which case i'll keep doing what they're doing or do they understand that they need to fix their story, change the way that they do business. intel might be one of the companies if you're willing to make a bet on management being realistic in bringing the company back i think it might be a company that you want to add on much more so than nvidia at this point in time. jack: where you stand on bitcoin still over $60000 has gained credibility by staying this ex

a lot of moves to digest after hours, intel done double digits, arm as well. many tech stocks have been disappointing their earnings. it is not just equities that have seen major moves. let's which of the board and take a look at other assets we have been monitoring closely. take a look at the 10-year yield. we have broken through 4%, three point 96 is where we are at down 10 basis points as the market has started to divert its attention away from just interest rate cuts to serious concerns about the oval economy -- global economy. all eyes today will be on the nfp print and whether we will see further weakness in the labor market. bank of england to cover its yesterday but signaled they will go slowly for future interest rate decisions. the markets pricing and 30 basis points of rate cuts for the year, but let's talk more about how these asian markets are faring. big moves in the japanese indices. avril: look at the 5% limit we are seeing on the nikkei, the topix. this is saying about given the turbulence we have been seeing gently. we are seeing markets repr

, ton take over intel >> that's right. work with intel, hand in hand, to produce an a.i. chip that would compete with nvidia. but again, doesn't seem like that is going anywhere as reported they had troubles working with intel on that. >> all righty. >>> quick power check. on the positive side ast space mobile, the shares soaring 40% after revealing an inaugural launch date for its space-based cellular network investors include verizon, at&t, and google that's some financial power. the shares are up nearly 400% in 2024 on the negative side you've got dillard's, the department store chain, sinking on disappointing second-quarter results, including a revenue miss, management highlighting a challenging consumer environment, and rising costs on the earnings call. that is your "power check. that is your "power check. we'll be right back. meet kandi technologies. where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment

intel's stock

of course intel is a disaster this morning, stock is down 21%, oil earnings, chevron crossed earlierction up 11% chevron announced its relocated the global headquarters from san francisco to houston, texas by the end of the year, exxon mobil reported a double beat announcing plans to repurchase more than $19 billion in stock in 2024 give me your sense of the earnings season overall you have real mrs. and stocks are reflected not like an intel and like a couple of others in big tech, do you want to stay away from big tech and find opportunities in smaller areas. do you still like semiconductors despite the news on intel. >> moment in time i feel like we go through this every earnings cycle, the mrs. get punished and there's something in the commentary and whether we beat on the top line and some segments not where it wants to be. we invest for our clients like warren buffett, good companies, product and service relevant to the future. if you think about the economy and where it's going in the future. everything that we touch has semiconductors and brains intel is a separate entity int

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disappointing from intel. and apples' results. global treasury'sen their longest winning streak of the prospect of a fed pivot. fed is in the three u.s. rate cuts this year. let's check on the markets right now. a lot of red on the vin. avery, what's going on? -- avril, what's going on? avril: the federal reserve, they're worrying, are behind the curve to easing. can the u.s. economy wait until september for cuts especially given what the data is telling us? pulling all this risk off the table. we're seeing stock slumping the big nest two years. we're seeing really strong concerns coming on the info tech sector given the earnings that we got from amazon. that's disappointing. they're losing the most ground on the stocks. the added concern of d.o.j. rate hikes. maybe we get 5% by the end of the year. that's an uncomfortable situation for equity. the topix has slumped by 10%. all the sectors on this index down for a second day, and amid all this risk, we're actually only seeing a bit up in the dollar and gold. even the yen is giving

for the april tojune quarter, intel reported weaker revenue and profit numbers.ter, don lemon, has sued tesla boss elon musk and his social media platform x, alleging that he didn't receive payment for a now—defunct content deal with the platform. mr lemon launched his show on x injanuary, and was agreed to be paid $1.5 million. but it was cancelled in march, just hours after the first interview with mr musk, where the journalist asked the billionaire about his drug use and political views. court papers show that mr lemon did not sign a contract, but was reassured by mr musk that he would financially support the show. x and mr musk have not yet commented. staying with tech, two weeks after crowdstrike sparked what's been described as the largest ever global it outage, most affected computers are now back to normal, but the disruption ran up costs into billions of dollars. speaking to the bbc�*s ben thompson, the head of global cyber—security firm, the ncc group, called the incident a "wake—up call" for businesses. i think, from this incident, one of the things we

the steps were necessary he said given costs intel reported weaker revenue and profit dampers.er crowdstrike sparked what's been described as the largest ever global it outage. most affected computers are now back to normal, but the disruption ran up costs into billions of dollars. speaking to the bbc�*s ben thompson the head of global cyber—security firm the ncc group called the incident a "wake—up call" for businesses. i think from this incident one of the things we have learned is just how complex our supply chains are, and i think many businesses don't really understand that. so crowdstrike, as i say, fantastic product, but it is probably not a strategic solution within an organisation, it is not a core finance system, not a core hr system, so for that to be able to cause the sorts of implications is quite serious, so i think what the lessons are for businesses, for supply chains is actually you have to understand how technology fits within your operations. i think you have to be prepared, think through the scenario so that you have plans in place, and we have to test. and

wedbush said much of the growth is in cloud where amd is better positioned than intel adding the intelis taking share in cloud and enterprise. the guidance here is going to be important with some analysts calling for a back half recovery with updates around the execution of its fab strategy also top of mind, including expenses after pushing back construction at the 20 billion ohio chip fad. ahead of the report bernstein's stacy rascon saying, quote, the ai story still feels mostly mia. those shares, scott, down 10%. >> to kate rooney now on one of the biggies. amazon. >> scott, so amazon's cloud business aws is going to be the big priority. they're watching the higher margin side. growth in aws expected to be 17.6%. that is the bar. the number to beat. cap exanother big area to watch. like other areas, amazon is going to need to this read this needle on spending when it comes to ai. they want to see evidence that the company can monetize ai. amazon is known for the cash burning cycles. we've seen this before. a couple years ago they went big on faster shipping. that has resulted in bet

intel that is five plants in development. the cfo telling me in early august despite the cost-cutting efforts, there are no changes for the foundry plans. wolfe analysts are unsure if investors will remain patient when intel's manufacturing is expected to turn profitable. they're proposing a joint venture with taiwan semi. intel does intend to produce the wafer the first half of 2025, thoughts it is said that delays are likely in the grant doesn't come through form in february, microsoft's ceo nadella did say that microsoft has chosen a chip design it plans to produce, so a good sign there. we have seen shares of intel underperform this year. >> what is taking so long and why? >> a shortage of talent. >> talent to do what? design or build? >> both, right? to have the individuals who have the expertise to build these chips, it's incredibly complicated. there's a reason that taiwan semiconductor is the reason and capital investigates 5% of market share in the world. >> so when intel was struggling, there were a lot of criticism

well now to more bad news for struggling tech giant intel. one week after announcing 15,000 employees are losing their jobs, the santa clara based company is now facing a lawsuit from its own shareholders, who claim the chipmaker concealed its financial struggles. investors say they were blindsided when intel reported a $1.6 billion loss in the second quarter. the stock price has fallen by more than a third since that was revealed last week intel has not commented on the lawsuit. while tickets are already sold out for the a's final game at the oakland coliseum, that's on september 26th. fans who managed to snag a ticket will get a colosseum replica and a commemorative ticket. the a's are leaving for sacramento next season before their move to las vegas in 2028. representing the bay and defending their title, the two law professors going head to head in a high stakes matchup tonight on lingo >>>>time starts now level level why do i care about paper so much? because my life and career were built on them. auditions, headshots, boxed wine... i me

intel down 27%. double miss on earnings and atrocious forecast for the current quarter. 10% below wall street's consensus estimates. what else can we throw in there? massive layoffs, suspending the dividend, the stock having its worst day since 1974. you saw amazon looking pretty ugly as well. intel now at $21.20. flip it over to panic treasury buying flight to safety here and that's got bond yields crying uncle. at its low the 10-year yield sank to 3 point 79%. right now it's at 3.80%, but this is a full 40 basis points lower than where it ended last week at the low. two year yield, now at 3.89%. last week, the two-year was at 4.38%, so you are looking at a big move here in the yields. the rivets are popping off pretty much the broader market, except for gold which is hitting a record but this of course after hitting the iceberg. july payroll saw 114,000 jobs added to the economy. way fewer than the 17 5,000 estimate. unemployment rate jumped from 4.1% to 4.3% leaving investors dazed and confused an

we're talking about intel.lier this month, intel shared it lost over $1 billion in revenue this year. at the same time, its stock plunged 26%. now it says it is trying to address investor concerns. intel is working with several advisors, including morgan stanley. they're considering options like splitting off and selling businesses. there also may be hope after intel shares closed 10% higher today. a rare artifact. thousands of years old is broken at a museum. how it happened and diabetes can serve up a lot of questions. like what is your glucose and can you have more carbs? before you decide with the freestyle libre 3 system know your glucose and where it's heading no fingersticks needed. now the world's smallest and thinnest sensor sends your glucose levels directly to your smartphone. manage your diabetes with more confidence and lower your a1c. the #1 cgm prescribed in the u.s. try it for free at freestylelibre.us headline, though. today the israeli museum invited four year old boy back after he accidentall

intel dominated the u.s.ling to stay relevant in facing a lawsuit by shareholders who say and fraudulently concealed problems. some analysts suggest that chipmakers crisis is the existential threat to the company. a full report next. ♪ stuart: look at the price of intel stock still below $20 a share, the company is being sued by shareholders that claim intel fraudulently consumed problems. kelly o'grady is following the story. >> immediately next they were supposed all the big annual innovation event, they completely cancel that with everything that is going on. the legal proceedings take a long time so we could be waiting but more concerning this exposes the challenges that intel has been pacing over the past year or so, she's fraudulently downplayed that and they dropped it under various bombshells which cause the stock to plummet even losing over $32 billion in one day. the suit claims despite knowing or recklessly disregarding the zip under diverse developments, defendants made false and misleading statem

julie biel, any reason to buy intel at all? it's now a teenager, it's under 20, being sued by shareholders, breaking news tonight. the stock -- it could be a value trap, a lot of people look at it, go, it's intel, it's got to come back. and that's not how the market works. >> no. all of these semiconductor names are problematic, because they have a really high level of vix cause. when they get a minuscule amount of revenue deceleration, it collapses their margins, and that's why we avoid names like that. >> yeah. avoid, maybe, we'll see what happens. but intel, under 20. >>> all right, now to another tough industry and that is the media. pretty grim out there. warner brothers discovery out with their results. i won't call them earnings, no earnings. another big loss. another big miss. and a big write down. julia boorstin has the details. i don't know if i summed that up appropriately, julie. >> that's right, brian. the company takes a $9.1 billion wr writedown. the ceo acknowledges what he called tough conditions in the legacy

intel down 5%. the chip sector is trading lower.hip makers like nvidia down 9.5% appand taiwan semi down 8%. we're back right after this break. stay with us. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. with so much entertainment out there wouldn't it be great... ...if you could find what you want, all in one place? show me paris. xfinity internet customers can enjoy the ultimate entertainment experience and save on some of the biggest names in streaming, all for just $15 a month. get the fastest connection to paris with xfinity. >>> a sea of red. the global stock market selloff is picking up steam. europe opening up sharply lower. red arrows in japan and the nikkei sees the worst day since 1987 after closing down more than 12%. u.s. stoc

we'll also get the trade on amazon and intel along the way. meantime let's dive further into today's weak economic data, jobless claims soaring to 249,000 in the last week. that's the highest level since a year ago, august 2023. can you believe it's august already? i think it's hard to believe. while the ism manufacturing index fell, suggesting a contraction in activity. all of this sending bond yields sharply lower. let's make sense of it all with dory wiley, con street's ceo. good to have you with us. this is what i sorts of heard as a subtext in what the fed was saying yesterday. number one, they're much more focused today than they have been over the past 18 months on the labor market, on the employment side of their mandate. do you agree? >> i do agree. if you look at the language that powell used, he was very cautious. he didn't look at it as weakening. he looked at it as normalized. now, the market, if you want to say the selloff today is economic uncertainty, which i'm not sure i want to say that, if the market would take that as, well

super micro down 8 -- yeah, intel, 27%. so, yeah, this is an ugly story.idia goes is how the market goes because it's a $3 trillion plus company, and it's such a big part of the s&p 500 and the nasdaq. it's going with the market odd to. stuart: now, because it looks like we've got a slowing economy, the price of oil has come down. last time we checked it was $74 a barrel. oil companies reported before the start of trading today. start with exxon. they're the up even though oil's down several bucks. lauren: yes. hay bought pioneer natural resources. they have record production in the permian basin, also in guy january a. that profits over $9 billion, stronger than expected, and they raised their output for the year by 13%. so they're a winnerred today in a down market. stuart: chevron, they reported. they're down sharply. lauren: it's the opposite story. weaker profits here, weaker refining here. they have two california refineries that are being reworked, so basically they're out. and as i said earlier, they're sick of california9 and the regulations, and

let's start with a dog of a quarter for intel. intel looks absolutely awful.tock -- we do not use this word often, but i think we can say it -- the stock is essentially crashing in the premarket. what is going on? mandeep: clearly they are losing their share on the data center side. there is a reason nvidia's doing so well. not only is it getting all of the incremental spend, it is actually taking share from the likes of intel. that is one. the other is intel has been investing on its foundry business for the last three years, and there is to show over there. no revenue, not even a ramp in terms of what they are doing on the foundry side, and that is what spooked investors, because that is impacting the gross markets. now you're talking sub 30% growth. that share was unimaginable five years back. annmarie: 15% of its workforce it is letting go care where are these jobs they are laying off from? mandeep: it is across-the-board. i think they realize come on the chips side, they do not have much exposure in terms of gpu's, so clearly there are cost cuts on that f

the israeli army, aman and the headquarters of the 8200 and 9900 units. this space is also the aman intel training center and the aman communications battalion building and is one of the largest listening bases in occupied palestine. well the headquarters of the massad and the headquarters of the military schools in dyon barracks, the information heritage center and the memorial site, kills of the intelligence units of the israeli army also located near this space. you can see that overview there of those buildings. since the space is the center of the military intelligence circle of the israely army, aman, and the headquarters of its units 8200 and 9900, well they're responsible for giving early warnings before any offensive operation against israel. uh therefore targeting it by hisbullah means that the resistance actually dealt a heavy blow, that's a great insult to the israely army, especially since this space is located deep in occupied palestine. well, 8200 is also responsible for collecting about 80% of the uh israeli security and also espionage information, and that's a lot. after

and the american company intel announced the dismissal of 15 thousand of its employees. the shares of this electronic chip manufacturer also fell by 20% after announcing this news . intel's poor economic performance and efforts to save. 10 billion dollars has been announced as the reason for the dismissal of these employees. the fall in the value of the shares of this company and several other american technology companies, including amazon causes confusion. the american stock market and its spread to the stock market of some other countries such as japan, south korea and taiwan. intel is one of the main companies that the us government hopes to strengthen to compete with china in the manufacturing of electronic chips and the semiconductor industry. some time ago, the president of the united states allocated 8.5 billion dollars in direct aid to this company. authorities. last year, the zionist regime announced the investment of 25 billion dollars of this company in the occupied territories, but some sources announced that this investment has been stopped. thank you so mu

in the american stock exchange , the shares of intel group are 20%. and amazon shares fell about 10 percent. the modesty of the stock index in asian countries following the turmoil in the american stock market and the registration of about one million people in the sama system , the non-face-to-face pre-sale of arbaeen flight tickets will begin today. in the name of god , dear viewers and dear and respected countrymen the most merciful most merciful god, peace and blessings be upon muhammad and the family of muhammad and the family of muhammad , hasten their fate. greetings and good morning . we are at your service . we present the detailed 8 am news together with my colleagues. terror and anxiety in the zionist camp. the israel radar base announced in a report that the public shelters in the settlements in the center of occupied palestine have been opened and the residents have been told to be ready. according to this report , preparations have also been made to move several hospitals to underground locations. in addition, he reported the cancellatio