Wall St. falls amid Turkey woes; banks, tech decline [Reuters]
Microchip Technology Incorporated (MCHP)
Last microchip technology incorporated earnings: 2/4 04:10 pm
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Source: Reuters
Wall St. falls amid Turkey woes; banks, tech decline | Reuters 3 Min Read NEW YORK (Reuters) - U.S. stocks slid on Friday as a deepening economic crisis in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies. A drop in technology shares added to the bearish tone. The S&P; technology index .SPLRCT fell 1 percent, with Intel ( INTC.O ) down 2.8 percent after Goldman Sachs downgraded the stock to “sell”. Microchip Technology ( MCHP.O ) shares fell 11.6 percent after disappointing second-quarter revenue forecast. A slump in the Turkish lira TRYTOM=D3 worsened after President Donald Trump doubled tariffs on steel and aluminum imported from the country. Investors fled to safe-haven assets, pushing the dollar .DXY higher and weighing on U.S. bond yields US10YT=RR. “It was a classic risk-off move,” said Quincy Krosby, chief market strategist at Prudential Financial in New Jersey. “You worry about the collateral damage. You worry about the effec
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MCHP
News
- Microchip Technology Incorporated (NASDAQ: MCHP) had its price target raised by analysts at Stifel Nicolaus from $94.00 to $98.00. They now have a "buy" rating on the stock.MarketBeat
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MCHP
Earnings
- 2/1/24 - Beat
MCHP
Sec Filings
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- MCHP's page on the SEC website