Intel shares plunged 23% after the company issued quarterly guidance below analysts’ expectations, forecasting earnings per share of 25 cents and revenue of $15 billion to $16 billion. Rivian jumped more than 8% following better-than-expected quarterly results and a raised delivery outlook, while Amazon slipped nearly 6% after disappointing results and negative free cash flow of $42.4 billion. Reddit tumbled 21% after requiring official accounts for platform access and issuing weak revenue guidance. Crypto-related stocks shed more than 4% following a reported $6.3 billion hack involving Binance, which also estimated that roughly $3 billion in crypto assets were frozen. Chevron and Exxon Mobil gained 1.4% and more than 1.4%, respectively, after reporting sharply higher net profits, while AstraZeneca rose more than 5% following better-than-expected quarterly results.
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