Intel Corporation (NASDAQ:INTC) Closed Its Offices In Pakistan As Part Of Its Global Business Strategy- Northern Dynasty Minerals (NAK)

Intel Corporation (NASDAQ:INTC) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -1.10% to 35.04 with around 22.76 Million shares have changed hands in this session. Intel Corporation has closed its offices in Pakistan recently as part of its global business strategy, sources have confirmed to ProPakistani.

The global strategy is to focus on profitable markets including Cloud Computing and Internet of Things (IoT) businesses while cutting costs from different countries. CEO Brian Krzanich describes the strategy as one that will “transform our company from a PC company to a company that powers the cloud and billions of smart, connected computing devices.” Intel has been laying off employees in various countries of its operations for some years now. In April 2016, the company reported (PDF) to restructure its businesses resulting in the reduction of up to 12,000 employees globally, approximately 11 percent of employees by mid-2017 through site consolidations worldwide, a combination of voluntary and involuntary departures, and a re-evaluation of programs.

The head office in Karachi has been shut down recently along with other offices in different cities of Pakistan. Also, the majority of the staff members were laid off except selected employees who have been shifted to offices based in different regional countries like Malaysia and Singapore. The largest processor maker of the world was working in Pakistan through channel business partners and different vendors and its operations were directed from regional office based in Malaysia. The stock is going forward its fifty-two week low with 21.45% and lagging behind from its 52-week high price with -8.22%.

Similar, the positive performance for the quarter recorded as -2.81% and for the year was 11.74%, while the YTD performance remained at -2.70%. INTC has Average True Range for 14 days of 0.50.

Shares of Northern Dynasty Minerals Ltd. (NYSE:NAK) [Trend Analysis] swings enthusiastically in regular trading session, it a decrease of -9.55% to close at $1.42. A shareholder rights firm, Lundin Law PC reported the filing of a class action lawsuit against Northern Dynasty Minerals Ltd. (NYSEMKT:NAK). Investors, who purchased or otherwise acquired shares between September 16, 2013 and February 14, 2017, inclusive are encouraged to contact the Firm in advance of the April 17, 2017 lead plaintiff motion deadline.

The Complaint alleges that during the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: The Pebble Project showed a negative net present value; that the Pebble Project is not commercially viable; and that as a result of the foregoing, Northern Dynasty’s financial statements, as well as Defendants’ statements about Northern Dynasty’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. The stock is going forward its fifty-two week low with 407.14% and lagging behind from its 52-week high price with -58.84%. NAK last month stock price volatility remained 15.91%.

 

About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

Leave a Reply

Your email address will not be published. Required fields are marked *