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Technology –Yahoo and Intel Q1 16 – Falls at the first

Intel reported a difficult set of results and cut 10% of its workforce as the server business can no longer compensate for the damage being done by the weakness in PCs. Q1 16 revenues/ EPS were $13.7bn/$0.42 broadly in line with forecasts of $13.8bn/$0.37 but the outlook was weak. Yahoo reported results that just beat the very low expectations set by management but beneath the veneer, we see declining engagement in mobile. Q1 16 revenues-ex TAC/Adj-EPS were $859m/$0.08 compared to forecasts of $847m/$0.08 but guidance for Q2 16 disappointed again.


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