Stocks on the Move: Intel stocks dip on selling its flash memory business, The Travelers Companies trading higher on Q3 earnings results
Yahoo Finance's On the Move panel discuss today's Stocks on the Move: Intel, The Travelers Companies.
Video Transcript
JULIE HYMAN: Well, as we take you to break, we want to get a quick check on a couple of stocks on the move. One of them is Intel. The shares are down about 1 and 1/2%. The company is going to be selling its flash memory business to SK Hynix, a South Korean company, for $9 billion. Intel says it's going to use those proceeds to focus more on artificial intelligence, on 5G, on edge computing. It has been making some other divestitures in order to make that kind of focus on the business. So-- but the shares are trading a bit lower in the wake of that announcement.
We are also continuing to follow a lot of earnings reports. Travelers is one of those that we are watching-- the big insurance company. And those shares have been trading higher. They're up by about 4% right now after beating estimates with the earnings per share-- $3.23 per share versus the $3.12 that analysts were predicting. Revenue also beating estimates. Net written premiums at the company up 3%, and its investment portfolio net income of about $566 million was up by 8% as well.
