Shares of Intel Corporation (NASDAQ: INTC), a designer and manufacturer of integrated digital technology platforms, are down sharply in trading today. At last check, INTC shares were trading 3.76% lower at $21.51 on volume of 4.62 million. The stock hit a 52-week low of $21.26 in trading today.
INTC shares are falling after the company reported its third-quarter financial results. For the third quarter of 2012, INTC reported quarterly revenue of $13.5 billion. The company’s operating income for the quarter was $3.8 billion. Net income for the quarter came in at $3 billion.
Paul Otellini, President and CEO of Intel, said that INTC’s third-quarter results reflected a continuing tough economic environment. Otellini also said that the world of computing is in the midst of a period of breakthrough innovation and creativity and as INTC looks to the fourth quarter, the company is pleased with continued progress in Ultrabooks and phones and excited about the range of Intel-based tablets coming to the market.
Shares of Realogy Holdings Corp. (NYSE: RLGY), a holding company providing real estate and relocation services through its subsidiaries, are up sharply in trading today. At last check, RLGY shares were trading 3.81% higher at $37.10 on volume of 22,406. The stock hit an all-time high of $38.17 in trading today.
RLGY on Tuesday announced that it closed its IPO of 46 million shares of its common stock at a price of $27 per share. RLGY began trading on the NYSE on October 11. The proceeds from the IPO will be used primarily to repay outstanding debts.
Shares of International Business Machines Corp. (NYSE: IBM), an information technology company operating in five segments, are down sharply in early trading today. At last check, IBM shares were trading 4.27% lower at $201.99 on volume of 1.37 million. The stock hit an intra-day low of $200.35 in trading today.
IBM shares are down sharply after the company reported its third-quarter financial results. For the third quarter of 2012, IBM reported diluted earnings of $3.33 per share, representing an increase of 4% over the same period in the previous year. IBM’s net income for the third quarter was $3.8 billion, flat on a year-over-year basis. The company’s revenue for the third quarter of 2012 was $24.7 billion, down 5% over the same period in the previous year.
Ginni Rometty, Chairman, President and CEO of IBM, said that in the third quarter, the company continued to drive margin, profit and earnings growth through its focus on higher-value businesses, strategic growth initiatives and productivity.
Shares of PepsiCo Inc. (NYSE: PEP), a global food and beverage company, are marginally higher in early trading today. At last check, PEP shares were trading 0.38% higher at $70.57 on volume of 1.85 million. The stock hit an intra-day high of $70.93.
PEP shares are gaining after the company reported its third-quarter financial results. PEP’s organic net revenue growth for the quarter was 5%. The company’s emerging and developing market net revenue dropped 13%, mainly due to beverage refranchisings in China and Mexico. PEP reported earnings per share of $1.21. The company’s core earnings per share for the quarter was $1.20.
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