Intel drops on fears of gains by rival AMD
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Intel Corp.  shares fell to  a three-year low Friday after No. 1 personal computer maker  Dell Inc.  said it would begin using chips from smaller  Intel rival Advanced Micro Devices Inc. , whose shares  surged.
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U.S. stocks were little changed on Tuesday as a sharp drop in consumer confidence in August stirred fresh doubt about the economy and expectations for Intel to pull in its quarterly revenue forecast weighed on technology stocks.
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Intel  on Tuesday posted quarterly results and an outlook behind Wall Street targets, sending its shares down 15 percent, further stoking concerns the U.S. economy may be entering a recession.
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Intel Developer Forum this week will zero in on upcoming chips. Areas for longer-term growth aren't quite so clear.
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U.S. technology shares tumbled on  Friday after Intel Corp. INTC.O, the world's No. 1 chip  maker, slashed its revenue forecast, but blue chips were only  moderately lower as drug and industrial stocks gained.
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NEW YORK  -The S&P 500 and the Nasdaq fell in  choppy trade on Wednesday, as pessimism about the U.S. economy  mounted after Intel Corp , the world's largest chip  maker, posted earnings and a profit forecast that disappointed  investors.
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Shares of Advanced Micro Devices   fell more than 10 percent on Friday after the computer  chip maker forecast quarterly revenue below market expectations  amid a price battle with larger rival Intel Corp..
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Well, just about For the last six months, AMD's market share has been on the wane as arch-rival Intel regained much of the lead it lost to the smaller chip maker during 2006. But new figures show AMD's slide may have come to a halt.â¦
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Considering the devastating two years Advanced Micro Devices Inc. has endured, investors braced themselves for more bad news in the fourth quarter after rival Intel Corp. disappointed Wall Street with lackluster results.
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U.S. stocks fell on Wednesday, with   the Nasdaq dropping over 1 percent, as a decline in Intel Corp.   INTC.O shares dragged other technology issues down and data   on rising U.S. labor costs renewed inflation concerns.
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Intel's financial results for the fourth quarter fell short of analysts' estimates in part because of weak prices for memory chips.
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Intel Corp., the world's largest chip maker, posted a 51 percent jump in its fourth-quarter profit Tuesday, but sales fell slightly below expectations and the company's shares dropped sharply in after-hours trading.
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Intel Corp.  on Thursday cut its third-quarter revenue and profit margin forecast after demand for both its computer microprocessors and communications chips weakened beyond expectations. Its stock fell nearly 8 percent.
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Intel, the world's leading computer chip maker, slashes its revenue forecasts, triggering a decline in global chip stocks.
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U.S. stocks slid on Friday after chip maker Micron Technology Inc.  said it expected weak demand for some of its key products, which punished the shares of semiconductor companies such as Intel Corp .
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U.S. stocks were little changed on  Tuesday as a sharp drop in consumer confidence in August  stirred fresh doubt about the economy and expectations for  Intel to pull in its quarterly revenue forecast weighed on  technology stocks.
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Earnings reports from IBM, Intel, and AMD and acquisition news from Oracle and Sun did nothing to calm IT investor fears about an uncertain U.S. economy this week.The tech-heavy Nasdaq Composite Index has gotten off to its slowest start in years. Even though the Nasdaq finished 2007 up by 9.8 percent for the year, it has been sliding steadily in the past few weeks.More analysts are starting to forecast a recession. U.S. Federal Reserve Board Chairman Ben Bernanke, testifying Thursday before the House Budget Committee, warned that the risks of an economic downturn are growing. Though he said an economic stimulus package, including low interest rates, could help avoid recession, IT investors are clearly worried. After President George Bush endorsed some of Bernanke&#39;s comments about stimulus, a Friday morning market rally fizzled out by the end of the day.IBM, which issued a preliminary earnings report Monday and its full results Thursday, had good news for its investors.&#160;IBM said that it would post $28.9 billion in revenue for the 2007 quarter, a 10 percent jump from the same period one year earlier. Fourth-quarter earnings are $2.80 per share, up 24 percent and above analyst expectations. But the company said results were helped mainly by strong sales in Asia, Europe, and emerging markets -- not the U.S.IBM shares rose $5.26 to close at $102.93 Monday when it issued its preliminary report and sparked a temporary jump in tech stocks overall. But ultimately most technology companies did not fare well on the market this week.AMD on Thursday reported a loss for the fourth quarter&#160;due mostly to charges connected to its acquisition of graphics chip maker ATI. AMD had a net loss of $1.8 billion and revenue of only $1.8 billion. Because the loss was smaller than expected, the beleaguered chip maker was rewarded in a down market Friday, when its shares rose by $0.70 to close at $7.04Meanwhile,&#160;Intel Tuesday announced a revenue increase for the fourth quarter that fell short of analysts&#39; estimates, in part due to weak prices for memory chips. The company said revenue was $10.7 billion, up 10.5 percent, but missed the $10.8 billion estimated by analysts polled by Thomson Financial. Intel shares lost $2.81 Wednesday to close at $19.88, further declining during the rest of the week.The Intel first-quarter revenue outlook is particularly disappointing, according to CitiGroup Capital Markets analyst Glen Yeung. Yeung expects a downward revision of the 2008 revenue outlook because while Intel is benefiting from market share gains against AMD, the U.S. economy is having a worse impact than expected.Acquisitions did provide some excitement this week.&#160;Oracle Wednesday announced a deal to buy BEA Systems for about $8.5 billion. Oracle shares gained $0.61 to close at $21.92 Wednesday on the news, flattening out over the rest of the week in the down market. The deal makes Oracle the biggest player in middleware, ahead of even IBM, pointed out JMP securities analyst Patrick Walravens in a research note.Sun&#39;s $1 billion acquisition of MySQL, also announced Wednesday, was looked on favorably by traders as well. Sun is buying an open-source database used by some of the most widely trafficked Web sites in the world, such as Facebook and Google. Sun also said that next week it expects to report net income of $89 million for the quarter ending Dec. 31, compared to a loss of $56 million for the same period in 2006. Sun shares gained $0.55 Wednesday to close at $15.53, and rose slightly over the rest of the week even as most other stocks declined.