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Activist investor Third Point is pushing for a turnaround at Morgan Stanley wrote Wednesday that the company has a long way to go. Intel (ticker: INTC) shares retreated 1.5% to $48.63 in midday Wednesday trading. That follows a 4.9% Tuesday rally in the stock on the news that Third Point had taken a $1 billion stake. The hedge fund’s Tuesday letter reiterated several well-known concerns about Intel’s business: manufacturing issues, competition from Advanced Micro Devices (AMD), talent retention, and the threat of companies such as Apple making their own chips. For those ...

Dreamstime Qualtrics filed paperwork with the Securities and Exchange Commission Monday, indicating its intention to go public at nearly twice the price SAP paid for the company just two years ago. The decision to go public comes amid a frothy year for initial public offerings. IPOs for household names such as DoorDash (ticker: DASH) and Airbnb (ABNB) notched huge first-day gains, and, despite the Covid-19 pandemic, 2020 is set to be the biggest year for IPOs since 2014. In going public, Qualtrics is hoping to benefit from some of the excitement. The IPO m...

The logo of the mobile app Snapchat. Lionel Bonaventure/AFP via Getty Images Snap stock jumped more than 5% on Tuesday, after Goldman Sachs raised its target price and said that the parent of Snapchat was likely to beat its own fourth-quarter guidance. Shares of Snap (ticker: SNAP) advanced 5.8%, to $51.05, in afternoon trading. In his positive note, Goldman Sachs analyst Heath Terry set a price target of $70 on the stock, up from $47, justifying an implied 45% of upside on the tech improvements and business partnerships that the company has announced since its third-quarte...

Peloton is about to close its best nine trading days since May, and at a record stock price. Shares of the provider of fitness equipment and subscription exercise classes have rocketed more than 500% in the last 12 months.

Cloudera said it had bought back all of the stake Intel took in the software company for $314 million, likely booking a substantial paper loss for the chip giant on its investment. Cloudera (ticker: CLDR) stock advanced 1.1% in the extended session, adding to a $15 close with a 2.5% gain in the regular session. Intel (INTC) stock ticked up 0.1% in after-hours trading, after ending the regular session up 0.9% to $46.57. Intel invested $742 million several years ago, in part because the chip giant reportedly wanted to have a say in the direction of big data software, such as the ...