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Stocks on Sale Today: Intel, Dexcom, Old Dominion, and More
Strong growth in technology companies is lifting Nasdaq (QQQ), except for Intel (INTC). Intel shares traded below $31 before bouncing back. Impatient investors are tired of waiting for CEO Pat Gelsinger to lead the former chip leader back to the golden era.
Intel did not show enough progress on AI-related solutions. Additionally, its foundry expansion will cost billions. The firm will need to report growth acceleration for its new products. For example, in Client computing, Intel Core Ultra is beginning to ramp up.
Data Center and AI will not show growth until the second half of this year. Until then, INTC stock will not rebound back to the $50 level.
In the medical devices sector, take advantage of DexCom (DXCM). Shares lost 9.9% last Friday despite the firm posting strong Q1 results. It expects revenue of $4.2 billion to $4.35 billion in 2024. Analysts expect a non-GAAP EPS of $1.75.
Old Dominion Freight Line (ODFL) fell by 7.24% last Friday. On Apr. 24, 2024, the firm posted an EPS of $1.34 in the first quarter. Revenue of $1.46B is up by 1.2% Y/Y.
Saia (SAIA) peaked at $600 and closed at $428.81. The firm did not meet earnings and revenue expectations in its Q1/2024 report posted on April 26, 2024.
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