Intel, IBM shares turn red after hours
LOS ANGELES (MarketWatch) — Shares of Intel Corp. fell Tuesday evening, as a quarterly forecast from the world’s largest chip maker disappointed Wall Street, and shares of International Business Machines were also in decline as the traditional tech bellwether’s quarterly sales missed expectations.
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Intel shares (NASDAQ:INTC) fell 2.4% to $21.82 as the company forecast fourth-quarter revenue of $13.6 billion, plus or minus $500 million. Analysts were expecting sales of $13.7 billion, according to a consensus estimate from FactSet.

Intel forecast arrives as the near-term outlook for the semiconductor industry has worsened.

For the third quarter, Intel’s adjusted earnings were 60 cents a share. Revenue was $13.46 billion, down from $14.23 billion in the year-earlier period. Analysts had pegged earnings at 50 cents a share on revenue of $13.2 billion. Profit was $2.97 billion, or 58 cents a share, compared with $3.47 billion, or 65 cents a share.

IBM shares (NYSE:IBM) lost 3.5% to trade at $203.67 after the company said third-quarter revenue fell 5.4% to $24.7 billion, with weakening in its services, software and hardware segments. Wall Street had expected $25.4 billion in sales. Adjusted earnings at Big Blue were $3.62 a share, beating the consensus estimate by a penny a share.