Intel, Honeywell stock drops after earnings would cut Dow's price by about 70 points
Shares of Intel Corp. (INTC) tumbled 10.3% in premarket trading Friday, making it by far the biggest loser among Dow Jones Industrial Average components, in the wake of disappointing third-quarter results. Since Intel's closed Thursday at $56.00 as the 25th-lowest price Dow component, and the Dow is a price-weighted index, the impact on the Dow's price is more muted than higher priced stocks. Intel's stock's implied premarket price decline would shave about 40 points off the Dow's price, while Dow futures gained 30 points, or 0.1%. Honeywell's stock (HON) is the next biggest Dow loser, falling 2.1% after reporting a third-quarter revenue miss. But with the stock closing Thursday at $224.52, the implied premarket price decline would cut about 30 points off the Dow's price.
(END) Dow Jones Newswires
October 22, 2021 06:53 ET (10:53 GMT)
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