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At 2016 highs. But we begin with big changes at intel. The company is cutting 11 of its workforce. Its cfo is moving to a new role. And its taking a onetime charge of more than 1 billion in the Second Quarter. This after the dow component reported weaker than expected firstquarter revenue and said the Current Quarter wouldnt be much better. It was that soft outlook for Second Quarter revenue that weighed on shares in afterhours trading. Intels current cfo said the changes at the company are all part of its broader strategy. What we went to do now is accelerate that transition. And so this restructuring is a tool to do that. And what it allows us to do is it allows us to be more efficient, to be more profita e profitable, and to increase investments in some of these new areas. The data center, the memory, internet of thi ....
But we begin with big changes at intel. The company is cutting 11 of its workforce. Its cfo is moving to a new role. And its taking a onetime charge of more than 1 billion in the Second Quarter. This after the dow component reported weaker than expected firstquarter revenue and said the Current Quarter wouldnt be much better. It was that soft outlook for Second Quarter revenue that weighed on shares in afterhours trading. Intels current cfo said the changes at the company are all part of its broader strategy. What we went to do now is accelerate that transition. And so this restructuring is a tool to do that. And what it allows us to do is it allows us to be more efficient, to be more profita e profitable, and to increase investments in some of these new areas. The data center, the memory, internet of things dominic che ....
Rocketed higher. We begin tonight with earnings from apple. The worlds most valuable company and most widely held stock and mutual funds reported the slowest pace of growth for iphones since they were introduced. The dow component is forecasting revenue in the Current Quarter will decline at the steepest rate in 15 years. Apple earned 3. 28 for the quarter. Revenue increased from a year ago but came in below expectations. As for the shares, they were initially lower after the report. Josh lipton spoke with tim cook a short time ago and has the key take away from the report. The big number to watch in apples latest earnings report, 53 billion. That was the high end that apple gav gave. I spoke to the ceo about the quarter, he said the march quarter will be the toughest compare of the year. He said the iphone franchise is solid and 60 of the installed base on the older models implying a lot of potential upgrade head room. A will th ....
Rocketed higher. We begin tonight with earnings from apple. The worlds most valuable company and most widely held stock and mutual funds reported the slowest pace of growth for iphones since they were introduced. The dow component is forecasting revenue in the Current Quarter will decline at the steepest rate in 15 years. Apple earned 3. 28 for the quarter. Revenue increased from a year ago but came in below expectations. As for the shares, they were initially lower after the report. Josh lipton spoke with tim cook a short time ago and has the key take away from the report. The big number to watch in apples latest earnings report, 53 billion. That was the high end that apple gav gave. I spoke to the ceo about the quarter, he said the march quarter will be the toughest compare of the year. He said the iphone franchise is solid and 60 of the installed base on the older models implying a lot of potential upgrade head room. A will th ....
And a few good men from the battlefield to the workplace. What some on wall street are doing to train and hire our veterans. We have all that and more tonight on nightly Business Report for tuesday, november 11th. Good evening, everyone, and welcome on a quiet veterans day on wall street. The dow and s p 500 did manage to close at fresh record highs. Numbers in just a moment. Meanwhile, the days biggest Business News took place a half a world away in china. There at the apec summit in beijing, president obama found some rare Common Ground with his chinese counterpart, striking a deal to eliminate tariffs on as many as 200 Tech Products shipped between china and the u. S. Including next Generation Semicondu ....