The sudden and rapid decline in economic activity was the largest driver, but the shortfall also reflects our own execution issues." Intel shares were marked 11.4% lower in pre-market trading to indicate an opening bell price of $35.18 each, a move that would extend the stock's year-to-date decline to around 31.7%. "Perhaps our largest overarching concern, aside from the details of the quarter and the negative outlook, is the degree of lost, or at least shaken, confidence that we and the Street must be dealing with when considering how comfortable we can be listening to, or counting on, any of Intel's optimistic views for its expectations of a seasonally stronger end of the year," said Benchmark analyst Cody Acree, who carries a 'hold' on Intel stock following last night's earnings.