Shares of Intel Corp. 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 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.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
