Jul 25, 2025 (Baystreet.ca via COMTEX) --
After the markets closed on Thursday, Intel (INTC) said that it would cut its staff by 15%. This is from the 96,400 that it reported at the end of June. By the end of 2025, the headcount will drop to 75,000.
Intel is shifting its heavy capital expenditure strategy. Instead of building semiconductor plants ahead of demand, it will build manufacturing capacity as needed. Chip demand would drive building activities. 18A manufacturing processes are Intel's highest priority.
Albemarle (ALB) continued its uptrend, closing at $84.18 and up by 6.84%. The stock bottomed at around $60. Lithium prices strengthened when a Chinese miner suspended lithium production on July 17. Beware of lithium holding its prices, since electric vehicle demand continues to worsen globally. The U.S. is winding down EV credits.
Dow (DOW) dropped by 17.45% to close at $27.07. The $30 support level from April up until yesterday broke down. It posted a net loss of $801 million ($1.18 a share) after revenue fell by 7% Y/Y to $10.1 billion. Dow cut its dividend in response to the weak mid-cycle earnings change.
LyondellBasell (LYB) re-tested the $60 zone, closing at $60.70 (-9.70%). The stock likely fell in sympathy with the DOW stock drop. LYB stock now pays a dividend that yields 8.99%. Investors are paid to wait for the stock to turn higher sometime in the future.
COMTEX_467550903/2559/2025-07-25T09:42:38
