Intel and Reddit Shares Plummet Following Weak Guidance
Intel and Reddit saw double-digit stock declines on October 30 after reporting disappointing financial outlooks and user engagement metrics.
Major technology and social media companies faced significant stock volatility in premarket trading on October 30, 2026. Intel shares fell between 23% and 24% after the chipmaker issued fourth-quarter guidance for revenue and earnings per share that missed LSEG estimates, a decline attributed to sluggish PC demand despite beating some earnings expectations.
Reddit shares dropped 21% following weak revenue projections and a 2% decline in U.S. daily active users. In response to these metrics, Reddit executives announced a strategy shift requiring users to create official accounts to access the platform, prioritizing a smaller, more engaged audience over broad reach. Similarly, Roblox Corporation shares declined 16% after reporting a 9% drop in daily active users and a year-over-year decline in player engagement.
Other sectors saw mixed results. Amazon shares declined nearly 6% after missing analyst expectations and reporting negative free cash flow of $42.4 billion. In the energy sector, Chevron Corp. and ExxonMobil saw gains after reporting surged net income of $9.9 billion and profits of $15.4 billion, respectively. Meanwhile, crypto-related stocks including Coinbase and Robinhood fell over 4% after Binance reported a hack impacting an estimated $6.3 billion, with $3 billion in assets frozen.
