Intel’s Production Snags Delay New Processors and 2 Other Hot Stocks to Watch
Intel Corp. (NASDAQ:INTC): Current price $23.67
Intel has said that production holdups will cause a delay in making its new line of processors, causing doubts that it can crank out advanced tech that can draw orders in the rapidly-growing market for tablets and smartphones. The new Broadwell design for chips will commence output in the first quarter of next year, some three months later than planned, according to Chief Executive Brian Krzanich on Tuesday. However, shares are up about 0.60 percent Wednesday morning after Intel posted third-quarter earnings that surpassed estimates.
Yahoo Inc. (NASDAQ:YHOO): Current price $33.04
Yahoo’s intention to keep a bigger-than-anticipated interest in e-commerce major Alibaba after that firm’s IPO has prompted a minimum of seven brokerages to hike their price targets on the former. Shares are up some 0.60 percent Wednesday after Yahoo said that it was selling less of its 24-percent stake in Alibaba Group Holding Ltd’s planned initial public offering in 2014. Analysts believe that Yahoo will benefit from keeping a more sizable stake in Alibaba, which posted impressive sales and profit growth in the second quarter.
Molycorp, Inc. (NYSE:MCP): Current price $5.29
On Wednesday, Molycorp announced the pricing of its previously announced registered public offering of 45 million shares of its common stock (or up to an aggregate of 51.75 million shares if the underwriters of the offering exercise their option to purchase additional shares in full) at a price per share of $5. Closing of the offering should occur on October 21, subject to satisfaction of the usual conditions. The firm intends to use the net proceeds received to fund current capital needs for capital expenditures and other cash needs, including, without limitation, capital expenditures at its California facility.