[DEVELOPING] Intel closes below the $95 price of its upsized $20bn share sale, nine days after pricing
Intel closed at $92.80 on 08-19, down 4.02% on the session and 8.07% over five sessions, leaving buyers of the 210.5m-share offering priced at $95 on 08-10 underwater. Reporting attaches an estimated 4-5% reduction in forward earnings per share from the dilution, and UBS cut its price target to $112 from $121 citing capped near-term valuation upside and the earnings drag from the raise. Over the 21 sessions this desk's momentum surface cannot see, Intel is -12.00%, the weakest reading on the current board.