Intel Plunges, Amazon and Reddit Fall

Today's biggest winners and losers in the stock market, a look at the notable movers: 

On this episode of Stock Movers:

- Intel (INTC) revenue forecast missed analysts' estimates due to sputtering demand for PC processors and supply-chain problems with its data center components. The company projects the PC market slump will persist through at least the first half of 2027, and decline 10% next year, following a 12% slide in 2026. Intel shares fell about 15% in late trading after the report was released, despite the company's optimism about demand for its products and its increasing spending on new equipment to boost production.

- Shares of Amazon (AMZN) fall as the company reported greater capital spending than anticipated. E-commerce revenue slowed and the company’s outlook for holiday sales indicated the online business isn’t poised for a quick rebound. The company spent more than $77 billion on property and equipment in the third quarter, leading to a free cash outflow of $42.4 billion, and revenue gained 12% to $201.9 billion. Online sales gained just 2% to $68.5 billion, the lowest growth rate since early 2023, while revenue at its cloud unit, Amazon Web Services, accelerated for the sixth straight quarter. 

- Reddit (RDDT) shares fell after the company announced plans to limit access to its online user forums to users with accounts to deepen engagement and improve the advertising business. The company will start testing different approaches in markets outside of the US throughout the fourth quarter, and hasn’t decided yet which parts of its site will remain available to logged-out visitors. Reddit executives believe the strategy will eventually lead to more growth, despite the potential for it to limit the platform’s reach in the short term, by encouraging people to visit the platform directly and providing valuable insights to advertisers.

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