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Matt Phillips7/24/25

Intel dips on Q2 report, positive sales forecast

Intel rose in the after-hours session Thursday after it reported a sixth straight quarterly loss that was much deeper than Wall Street analysts had expected, but offered a better-than-expected sales forecast for Q3 and plans to cut headcount by roughly 15%.

The ailing American semiconductor icon reported an adjusted Q2 loss of $0.10 a share, which excludes the impact of some $1.9 billion in restructuring charges.

Sales of $12.86 billion were higher than the $11.97 billion in revenue expected by analysts, FactSet data shows.

Intel offered stronger-than-expected guidance for Q3 sales. The chipmaker said it expected sales of between $12.6 billion and $13.6 billion, above the $12.66 billion that Wall Street analysts had penciled in for Q3 sales, according to FactSet. At the same time, the semiconductor giant’s forecast said that adjusted Q3 earnings per share would be flat, while analysts were looking for $0.04.

In a separate statement, Intel’s new CEO, Lip-Bu Tan, offered a strategic update on the direction of the company, announcing that Intel would abandon manufacturing projects in Poland and Germany as it seeks to course-correct for a manufacturing base that had become “needlessly fragmented and underutilized.”

Tan emphasized that the company intended to take a more disciplined approach to production decisions. “There are no more blank checks,” he said. “Every investment must make economic sense.”

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Hardware stocks jump thanks to server demand and record Lenovo revenue

Server stocks are rallying as Dell, Super Micro Computer, and Hewlett Packard Enterprise ride the momentum of Hong Kong-based Lenovo. The PC maker’s stock rose 19% on Friday, hitting an all-time high, on record Q4 earnings.

Powering the positive earnings report was the company’s AI-related revenue, which grew 84% in the fourth quarter and now makes up over a third of total revenue. Investors seem to think the increased demand for servers could have trickle-down effects for other companies.

“The company’s results and commentary reinforced the outlook for strong AI-infrastructure demand while indicating resilient broader traditional server and storage spending,” wrote Woo Jin Ho, a senior technology analyst at Bloomberg Intelligence. “Lenovo’s $21 billion AI-server pipeline and remarks that demand is outpacing supply support Dell’s AI-demand momentum and point to robust orders.”

AI’s insatiable computing demand is reshaping the hardware industry and driving up server demand.

Dell will report first-quarter earnings on Thursday, May 28.

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Helena Cheng5/22/26

Ross Stores surges as Q1 results beat expectations, full-year guidance raised

Ross shares are rising after the company delivered strong Q1 results, with sales topping Wall Street’s projections.

The stock soared 6.3% just after the open.

Key numbers:

Earnings per share of $2.02 vs. $1.47 year over year (estimate: $1.72).
Sales of $6.01 billion, up 21% year over year (estimate: $5.61 billion).
Comparable sales growth of 17% (estimate: 8.58%).

CEO Jim Conroy attributed the results to better traffic in stores. “Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in‑store experience are resonating with shoppers.”

The company also noted that transaction volume grew across all key demographics, including “income levels, ethnicities, and age groups, including younger customers.” Sales were also likely buoyed by standard seasonal tailwinds, including consumer spending from tax refunds.

Backed by the strong quarter, the company lifted its full-year targets. Ross now projects same-store sales growth of 6% to 7%, up from the prior forecast of 3% to 4%, topping Wall Street’s estimate of 4.64%. It boosted its annual EPS guidance to a range of $7.50 to $7.74, versus the prior outlook of $7.02 to $7.36.

Ross Stores has been one of the retail sector’s standout performers this year, rising around 20% year to date as of Thursday’s close.

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