Intel cuts full-year revenue forecast, shares fall

Chipmaker Intel Corp INTC.O forecast current-quarter revenue below analysts' estimates and cut full-year outlook on Thursday, sending its shares down 7 percent and sparking worries that an industry-wide slowdown could persist until the end of 2019.
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CNN projects Bernie Sanders wins Nevada caucuses
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3 winners and 2 losers from the Nevada caucuses
Sen. Bernie Sanders supporters cheer in El Paso, Texas, just before he takes the stage after winning the Nevada caucus. | Cengiz Yar/Getty Images Bernie Sanders looks like the strongest candidate, and the other Democrats still haven’t distinguished themselves. Bernie Sanders won the 2020 Nevada caucuses, and in more ways than one. His signature issue, Medicare-for-all, won in a face-off with the state’s most powerful union. And the race for second through fifth place was muddled, a recurring theme in this primary season, in which no clear center-left alternative to Sanders has emerged. Sanders rode into Nevada with two popular-vote wins in Iowa and New Hampshire and a near tie in the delegate count with Pete Buttigieg. Nevada was his chance to break away from the pack in the only metric that actually matters: delegates to the Democratic National Convention this summer. A candidate needs a majority to win the nomination. The Vermont senator was always looking like the favorite, having led the polls in Nevada ahead of the caucuses. The rest of the story was going to be who came in second. Mario Tama/Getty Images Sen. Bernie Sanders campaigns in Las Vegas, Nevada, on February 21, 2020. Buttigieg shined in Iowa and New Hampshire, two overwhelmingly white states, but needed to prove he could contend in places with more Hispanic and black voters. Joe Biden has struggled in the first two states, but his campaign hoped a more diverse electorate in Nevada (and, looking ahead, in South Carolina and the Super Tuesday states) will fuel a comeback. Elizabeth Warren also failed to make a splash in the first two states before a commanding debate performance Wednesday. And Amy Klobuchar was trying to build off her strong showing in Iowa and especially New Hampshire, where she relied on support from white voters for a surprise third-place finish, to show she can attract voters of color. (Mike Bloomberg is technically on the Nevada ballot, but he’s making his big bet on Super Tuesday, March 3, when nearly one-fourth of the DNC delegates are up for grabs.) So coming out of Nevada, Sanders looks by far like the strongest candidate in the Democratic field, and the rest of the candidates still haven’t distinguished themselves as the best bet to topple him. Those were the stakes headed into Saturday afternoon in Nevada. Here’s who won and who lost. Winner: Bernie Sanders He got the most votes and the most delegates. He won. In Nevada, Sanders finally got the decisive victory he’d been lacking after effectively tying in Iowa and New Hampshire. His margin of victory over the other five candidates who see themselves as viable threats to the nomination was substantial. And it comes in a state that has moved up the primary calendar because party leaders think it has the kind of voters — young, diverse — Democrats will need going forward. (Well, and because former Senate Majority Leader Harry Reid played an outsize role getting Nevada third on the schedule.) Sanders finally put a little distance between himself and Buttigieg. Going by the FiveThirtyEight forecast, he is at this point really the only Democratic candidate with a good chance (39 percent) of winning a majority of DNC delegates and the nomination. But he trails “no one” at this point, raising the possibility of a contested convention if nobody wins the nomination in the primary elections. For Sanders, as a party outsider, accumulating as many delegates as possible and making his nomination seem inevitable — whether he wins an outright majority or not — is incredibly important. He’s gained some ground in that race, thanks to this strong win in Nevada. Loser: The race for second place With everybody anticipating a Sanders win, a lot of the pre-caucus speculation was about who would come in second. Would Buttigieg solidify his place as the Sanders alternative? Could Biden rebound ahead of South Carolina, his must-win state? What if Warren parlayed a strong debate into a surprise second-place finish? Instead, the story out of Nevada is that Sanders is running away with the nomination and there is little clarity about the strongest opponent to challenge him. FiveThirtyEight gives Sanders 4-in-10 odds of winning the primary; Bloomberg, barely a blip in Nevada, is second at 1 in 12 on the strength of his national polling and a focus on the delegate-rich Super Tuesday states. A Biden nomination is considered a little less likely than Bloomberg’s. Nobody else has better than a 1-in-100 chance. As the Republican establishment learned in 2016, you can’t just play for second against an insurgent frontrunner. Democrats are starting to learn the same lesson the hard way. Winner: Ranked-choice voting For the first time, Nevada let people “vote early” in the caucuses. What that actually meant (because of the way caucuses are run in real life; read more from Andrew Prokop) is those early voters used a ranked-choice ballot. It looked a lot like ranked-choice voting in Maine (the first state to authorize it in all elections), and several other states will use ranked-choice ballots in their upcoming primaries. This year, Nevadans could go to an early-voting site and fill out a ballot with their preferences for the Democratic nominee, ranked first through fifth. It mirrors the caucus experience, where voters first congregate with their favorite candidate. But then for candidates who fail to clear 15 percent on that first vote, their supporters must move to a more viable camp. Mark Ralston/AFP via Getty Images A volunteer counts votes during the Nevada caucuses in Las Vegas on February 22, 2020. The new wrinkle seems to have increased turnout in Nevada; upward of 75,000 early ballots were cast, nearly matching the total turnout at the 2016 Nevada caucuses. The only question is whether that decreases turnout on caucus day, but it seems assured overall turnout will be up from the last election. For Nevada, ranked-choice voting was a way to replicate the caucus experience in absentia. In general, the argument for ranked choice is, in short, that it’s more democratic than relying on a plurality of support or a top-two runoff to declare a winner. As Vox’s Ella Nilsen previously explained: Ranked-choice advocates say this is simply a more democratic system and less expensive than runoff elections, which have to be held separately and typically have very low turnout (case in point: the Texas runoff). “We think compared to those other two, it means voters have more say and more reliable outcomes versus plurality,” said Rob Richie, executive director of the nonprofit organization FairVote. “We feel quite comfortable saying it works.” And we haven’t seen the last of ranked-choice voting in the Democratic contest: Alaska, Hawaii, Kansas, and Wyoming will use it for their 2020 primary elections. Loser: Culinary Union 226 The powerful labor union, which represents 60,000 people in Nevada’s hospitality industry, didn’t technically endorse any candidate, and so it technically did not back a loser. But the union’s leaders made their displeasure with Sanders’s Medicare-for-all plan — and his most zealous supporters — known. Their Nevada workers benefit from high-level health care, including their own clinic, and numerous reporters have talked to union members who are worried about losing that health care if their insurance plan is eliminated. (Overall, union members are more mixed on Medicare-for-all than Democrats generally.) Alex Wong/Getty Images Ted Pappageorge, president of Culinary Workers Union Local 226, announces that the union decided not to endorse a candidate before the Nevada caucuses, on February 13, 2020. Workers who caucused for Sanders said they liked their union insurance plan, according to BuzzFeed News. But they worried about relatives and friends who could lose their jobs: Some workers who spoke to BuzzFeed News said they support Sanders’ Medicare for All proposal, even though they appreciate the union health care they have, because they have friends and relatives who don’t have union health care and worry about what would happen if they lost their jobs. The way the union blasted Sanders’s plan while softening their language when describing Elizabeth Warren’s Medicare-for-all plan made pretty clear which way it wanted the primary to go. The union’s leaders picked the fight with Sanders quite publicly, with the news of their anti-M4A literature breaking on the night of Sanders’s New Hampshire win. But Sanders won the state handily. Moreover, exit polls found that Democratic caucus-goers overwhelmingly support a single-payer program that eliminates private insurance: about 6 in 10, according to the Washington Post. It looked like Sanders was beating union leadership on their own turf. Damn: Now looks like Bernie has won caucuses at Bellagio, Mandalay, Park MFM, Rio, and Wynn, tied at Harrah’s and lost Paris. He is the Culinary workers’ candidate!— Jon Ralston (@RalstonReports) February 22, 2020 Winner: Medicare-for-all Again, 6 in 10 Nevada caucus-goers told pollsters they supported eliminating private insurance for good and replacing it with government health insurance. And the candidate who has married his brand to Medicare-for-all was winning caucuses in casinos with union workers, after that union’s leaders made their opposition to the plan abundantly clear. It’s still an open question how Sanders, and Medicare-for-all, would fare in a general election against President Trump or how “electable” the candidate and his plan ultimately are. But the issue is not slowing Sanders down at all among Democratic primary voters.
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John Fund: Bernie Sanders’ projected Nevada victory leaves Dem establishment scrambling – Can he be stopped?
Sen. Bernie Sanders’ projected victory Saturday in the Nevada Democratic caucuses is a big loss for members of the party’s establishment who are hoping a more moderate candidate captures the Democratic presidential nomination to challenge President Trump.
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Sanders wins Nevada and also trounces competitors with Latino and Hispanic caucus-goers
Sen. Bernie Sanders wins Nevada, leads other candidates among minority voters       
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Amy Klobuchar tells supporters she has "exceeded expectations" as Nevada results trickle in
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6 takeaways from the Nevada caucuses as Bernie Sanders wins
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2020 Nevada caucuses: Live results
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Bernie Sanders’s Biggest Win Yet
Senator Bernie Sanders endured nail-biters in Iowa and New Hampshire. Today, Nevada voters handed him a landslide victory.Sanders’s dominant victory in the Silver State solidifies his standing as the front-runner for the Democratic presidential nomination, giving him and the progressive movement a clear boost as the race heads to more challenging territory in South Carolina and then across the country on March 3—Super Tuesday.Although Nevada, like the first two Democratic nominating contests, sends relatively few delegates to the party’s national convention this summer, Sanders’s win demonstrated two key things. First, the democratic socialist from Vermont has significantly improved his performance from 2016 among a more diverse primary electorate; just 66 percent of caucus-goers in Nevada were white and more than one-quarter were Latino or black, according to entrance polls. That change could prove crucial as Sanders tries to rack up delegates in huge states like Texas and California on Super Tuesday. Waiting for him in March is former New York Mayor Michael Bloomberg, who is hoping that an unprecedented barrage of television ads will drown out his roundly criticized debate debut last week.[Read: Bloomberg’s beating]Second, while former Vice President Joe Biden, Senator Amy Klobuchar, and former Mayor Pete Buttigieg again split the moderate vote, Sanders has—at least for now—consolidated the left wing of the Democratic Party behind him. Senator Elizabeth Warren’s forceful performance in Wednesday’s Las Vegas debate came too late to matter in Nevada, where well over half the caucus electorate—some 75,000 people—had already voted early. Entrance polls did show Warren doing well (though still behind Sanders) among the 15 percent of voters who made their decision in the past few days. She’ll need another strong showing at next week’s debate in South Carolina if she hopes to compete seriously with Sanders there and in many larger states on Super Tuesday.Biden finished far behind Sanders, clustered with Buttigieg, the billionaire activist Tom Steyer, and Warren. The former vice president is banking on a victory next Saturday in South Carolina to keep his campaign afloat, but that may depend on how much momentum Sanders carries out of Nevada.If Sanders slightly underperformed expectations in Iowa and New Hampshire—where he still came out with a win and at worst a tie—Nevada illuminated the durability of his support. A fight between his campaign and the leadership of the powerful union of culinary workers over Sanders’s Medicare for All proposal did little to diminish his standing among laborers. He fared well among union members in entrance polls, and he won caucus precincts at major Las Vegas casinos dominated by culinary workers.[Read: Bernie Sanders’s biggest test yet with Latino voters]Nevada is also significant in that it represents the first state where Sanders improved his position from 2016, when he lost the caucus handily to Hillary Clinton. His biggest challenges are yet to come, as Biden tries to regroup in South Carolina, Bloomberg’s billions swamp the airwaves, and the party establishment frets about the prospect of a democrat socialist leading its ticket in the fall. The candidates who largely laid off Sanders in favor of demolishing Bloomberg at last week’s debate might now target him instead. Sanders’s critics will point out that collectively, moderate candidates outpoll the Vermont senator and that he remains unlikely to win a majority of pledged delegates heading into the Democratic convention in Milwaukee.That may be true. But while the question of whether a candidate as far left as Sanders can defeat Donald Trump and win the presidency remains, it is becoming more and more clear which wing of the Democratic Party is prevailing: In the most diverse contest of the year, the most progressive candidate in the field won his biggest victory yet.
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Matthews: 'A Little Late to Stop' Sanders in Primary - GOP Will 'Kill Him'
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Sanders heads to big win in Nevada caucuses, Biden battles Buttigieg for second place
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WATCH: Democratic candidates face off in Nevada
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