NEW YORK, May 10, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Intel Corporation (NASDAQ:INTC), and AXT, Inc. (NASDAQ:AXTI). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Intel Corporation (NASDAQ:INTC)
Class Period: January 25, 2024 - April 25, 2024
Lead Plaintiff Deadline: July 2, 2024
On April 2, 2024, after the markets closed, Intel issued a press release which disclosed a retrospective revision of the Company's financial results under the new Foundry model reporting structure, revealing that the Foundry segment experienced an operating loss of $7 billion on sales of $18.9 billion in 2023, that Foundry revenue in 2023 was $18.9 billion down $8.6 billion from 2022, that the segment's operating loss included a $2.1 million in lower product profit driven by lower internal revenue.
On this news, Intel's stock price fell $3.61, or 8.2%, to close at $40.33 per share on April ...