Dow slid back 14, decliners over advancers 5-4 & NAZ added 38.  The MLP index fell 1+ to the 233s & the REIT index was steady at 400.  Junk bond funds drifted lower & Treasuries had more selling, bringing higher yields.  Oil fell 1 to about 80 & gold was off 4 to 1925.

AMJ (Alerian MLP Index tracking fund);'

  EPS was 10¢, adjusted, vs 20¢ expected & revenue was $14.0B vs $14.4B expected.  Revenue declined 32% year over year in Q4.  It's the 4th consecutive qtr of falling sales as the market for personal computers retreats from the Covid boom.  The company recorded a $664M net loss, compared with a profit of $4.6B in the year-ago qtr.  Investors can expect more pain in Q1.  INTC called for adjusted net loss of 15¢ per share on $10.5-11.5B in revenue.  The forecast expected earnings of 24¢ per share & $13.93B in revenue.  INTC declined to provide a full-year forecast because of “the uncertainty in the current environment,” CEO Pat Gelsinger said.  For at least H1 of 2023, INTC will deal with persistent economic headwinds,” the company said.  In Q4, its Client Computing Group, which includes PC chips, contributed $6.6B in revenue, down 36% & below the $7.7B forecast.  Demand fell mainly in consumer & education markets.  Customers lowered their inventory.  Gartner said the PC market shrank more sharply than any qtr since it began following the industry in the 1990s.  On Jan 12, INTC saw a total addressable market for 270-295M PCs in 2023.  The company said it now expects the market to be on the low end of that range.  Under-load charges, which accrue when factories are underutilized, narrowed INTC's gross margin in Q4 by 220 basis points (2.2%), CFO David Zinsner said.  In the first qtr loading issue will hurt gross margin by 400 basis points, Zinsner added.  “We would expect loadings to improve once we get past the inventory correction we’re currently experiencing,” Zinsner continued.  The stock dropped 2.39 (8%).
If you would like to learn more about INTC, click on this link:
club.ino.com/trend/analysis/stock/INTC_aid=CD3289&a_bid=6ae5b6f7

Intel shares drop on weak quarterly results and more losses to come

Hasbro (HAS) said it would eliminate 1000 employee positions & warned of weak holiday-qtr results.  “Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment,” said CEO Chris Cocks.  The layoff of around 15% of its global workforce comes as the company seeks to save $250-300M annually by the end of 2025.  HAS expects Q4 revenue, which includes the holiday season, to reach $1.68B, down 17% compared to the year-earlier period.  Estimates had called for revenue to reach $1.92B.  For the full year, the company foresees revenue hitting $5.86B, down 9% compared to 2021.  “While the full year 2022, and particularly the fourth quarter, represented a challenging moment for Hasbro, we are confident in our Blueprint 2.0 strategy, unveiled in October, which includes a focus on fewer, bigger brands; gaming; digital; and our rapidly growing direct to consumer and licensing businesses,” Cocks said.  The company has faced revenue woes in recent qtrs, as it contends with tough comparisons with pandemic-fueled toy sales, inflation weighing on consumers wallets and high levels of inventory.  The stock dropped 3.99 (6%).
If you would like to learn more about HAS, click on this link:
club.ino.com/trend/analysis/stock/HAS_aid=CD3289&a_bid=6ae5b6f7

Hasbro warns of weak holiday quarter results, cuts 15% of its workforce

Dow (DOW) will eliminate 2000 jobs worldwide as part of a corp restructuring plan to secure $1B in cost savings in 2023, the company said.  DOW is also shutting down select assets & further evaluating its global asset base while focusing on Europe "to ensure long-term competitiveness and enhance cost efficiency."  "We are taking these actions to further optimize our cost structure and prioritize business operations toward our most competitive, cost-advantaged and growth-oriented markets, while also navigating macro uncertainties and challenging energy markets, particularly in Europe," CEO Jim Fitterling said.  "We remain committed to capitalizing on our long-term growth opportunities in a disciplined and balanced manner, and these actions further position us to advance our decarbonize and grow strategy and strengthen our competitive position," he added.  The restructuring plan will allocate $500M for structural improvements $500M in operating expense reductions with an emphasis on near-term cash flow.  The stock went up 56¢.
If you would like to learn more about Dow, click on this link:
club.ino.com/trend/analysis/stock/DOW_aid=CD3289&a_bid=6ae5b6f7

Dow to cut 2,000 jobs, plans to save $1B in cost

The stories above are representative of many more which have been reported.  Companies are struggling in an economy that is not robust.  Of course, the Fed is trying to slow the economy with higher interest rates & stocks are facing headwinds.  Times are difficult which is shown in the Dow chart below.

Dow Jones Industrials