Initially Intel stock went down understandably on the news that business was slowing and the 2nd quarter revenues numbers would be lower than forecast and the Company would lay off 10% of the workforce. What I don’t understand is why the stock reversed and went up. Note we were short for earnings. Maybe the market just got it wrong as evidenced by the Chairman of the Board selling $5.9 million shares reducing his stock ownership by over 30%.
Source: EZ-EDGAR(tm) Filing: INTEL CORP F4 Filed on 2016-04-22