Stocks to Watch: Intel, Netcapital, Microsoft

By Connor Hart

Intel will further separate its chip-manufacturing and design operations. Increasing the separation between the two will allow the manufacturing arm to get financing independently, allay customer concerns about its independence and bring it more culturally in line with a contract chip maker, Chief Executive Pat Gelsinger told The Wall Street Journal. The company is also pausing factory projects in Germany and Poland for two years, putting a manufacturing project in Malaysia on hold until demand picks back up and slashing its number of offices. Shares rise 7.8%, to $22.54, in after-hours trading.

Netcapital widened its loss and posted a steep decline in revenue in its fiscal first quarter. The financial-technology company after the bell reported a net loss of $2.5 million for the quarter ended July 31, compared with a loss of about $492,000 a year earlier. Revenue fell 91% to about $142,000. "This was a challenging quarter for us, driven primarily by a decrease in revenues for services that we provide in exchange for equity securities," Chief Executive Martin Kay said. Shares fall 27%, to $2.10, in post-market trading.

Microsoft said after the bell it would raise its quarterly payout by about 11% and begin a new stock-buyback program. The new payout of 83 cents provides a yield of about 0.77% based on Monday's closing share price. The Redmond, Wash., company said its board authorized a new stock-repurchase program of up to $60 billion. Shares rise 0.6%, to $433.97, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 16, 2024 19:40 ET (23:40 GMT)

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