Illustration:Rebecca Zisser/Axios

Leading U.S. chipmaker Intel beat earnings estimates for the most recent quarter in results reported Thursday, but its stock plunged after hours after it revealed a gloomier outlook for the rest of the year and new delays in delivering its next-generation 7-nanometer chips.

Why it matters: This is the first quarter to reflect the full impact of the coronavirus pandemic on the U.S. and global economy.

Details:

  • The company reported $1.23 per share in earnings, adjusted, vs. $1.11 per share that analysts expected, according to Refinitiv.
  • Its revenue was $19.73 billion, vs. an analyst expectation of $18.55 billion, according to Refinitiv.

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Snap beats Q3 analyst expectations

Illustration: Axios Visuals

Snap's stock price shot up by more than 23% in after-hours trading Tuesday after the company posted Q3 results that beat analyst estimates.

Why it matters: Similar to other social media companies, Snap's business has done well during the ongoing COVID-19 pandemic.

Updated 10 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: FDA approves Gilead's remdesivir as a coronavirus treatment How the pandemic might endMany U.S. deaths were avoidable.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.

What to expect from the final debate of the 2020 election

Trump and Biden at the first debate. Morry Gash-Pool/Getty Image

Watch for President Trump to address Joe Biden as “the big guy” or “the chairman” at tonight's debate as a way of dramatizing the Hunter Biden emails. Hunter's former business partner Tony Bobulinski is expected to be a Trump debate guest.

The big picture: Trump's advisers universally view the first debate as a catastrophe — evidenced by a sharp plunge in Trump’s public and (more convincingly for them) private polling immediately following the debate.