Intel results, outlook miss estimates
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Intel  on Tuesday posted  quarterly results and an outlook behind Wall Street targets,  sending its shares down 15 percent and stoking concerns about a  U.S. recession and further stock market sell-offs.
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Shares of chip companies closed lower Tuesday as Wall Street began to look ahead at a mid-quarter report expected by Intel Corp. on Thursday, with some analysts concerned the semiconductor giant might lower expectations.
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SAN FRANCISCO (CBS.MW) -- Following a year of execution missteps, Intel&#39;s two top executives sought to reassure analysts on Tuesday that the world&#39;s largest chipmaker can successfully navigate the tricky and costly processes of making smaller, faster
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Intel will miss its 2004 product cost-reduction targets because of a widely publicized string of product delays and problems, but those missteps are largely behind it now, the world&#39;s largest chipmaker said on Tuesday.
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Intel Corp  on Tuesday  posted a 51 percent rise in quarterly net income, paced by  brisk sales of its microprocessors used in notebook personal  computers, and gave a forecast that lagged some analyst  estimates.
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NEW YORK  -Stocks fell on Wednesday, after Intel Corp  posted both a disappointing profit and outlook, driving the S&P 500 to its lowest closing level in 14 months.
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Intel Corp. lowered its revenue projections for its third quarter yesterday, citing slow consumer purchases across the globe. The world&#39;s largest chipmaker reported that it expects revenue for the three-month period ending Sept.
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Technology stocks sank Friday after Intel Corp., the world&#39;s largest chipmaker, disappointed investors by slashing its revenue forecast.
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(InfoWorld) - Intel said its quarterly profit rose 44 percent over last year, reaching $1.3 billion as low selling prices for its microprocessors were offset by higher than expected unit shipments. The results came despite an ongoing price war as Intel and rival AMD struggle for larger shares of the processor market. Both companies have been cutting prices on their chips as they upgrade their products from standard chips to dual-core and quad-core processors. Intel is also in the final stages of a corporate reorganization that included the layoffs of thousands of workers in 2006, and at least 1,800 more layoffs planned for August. The company incurred restructuring charges of $82 million during the most recent quarter as it continued to adjust to the changes, Intel said on Tuesday. Despite those challenges, Intel earned $0.22 per share on revenue of $8.7 billion for the quarter ending June 30, beating Wall Street expectations that the company would earn $0.19 per share on revenue of $8.54 billion, according to analysts polled by Thomson Financial. Intel also beat its own mark from the second quarter of 2006, when it earned $0.15 per share on revenue of $8.01 billion.
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Blog: Bad: AMD lost $600 million this quarter. Good: Chip shipments surged.
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Chip maker Intel (INTC ) caught Wall Street by surprise on Dec. 2 when it significantly raised fourth-quarter revenue estimates. But the news wasn&#39;t all rosy, as Intel failed to raise estimates dramatically for its closely watched gross-margin figure.
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Intel Corp. , the largest maker of computer processors, posted a 44 percent rise in quarterly profit on Tuesday but gross margins missed its target and shares fell nearly 5 percent.
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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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Intel Corp. , the largest maker of computer processors, posted a rise in second-quarter earnings on Tuesday, but its missed its gross profit margin goal and its shares fell nearly 5 percent.
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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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(InfoWorld) - Global PC sales have slowed a tad over the past few weeks as the market waits for Intel to announce new price reductions, market researchers said. The world's largest chip maker is widely expected to publish a new price list on July 22 that shows lower prices for microprocessors aimed at the desktop PC market. The company regularly updates its pricing, but doesn't disclose when or how much prices will change, an Intel spokesman said Thursday. Still, PC makers in Taiwan, as well as analysts and market researchers said they receive word of price changes ahead of time, and that the expected Intel price reductions were the reason Advanced Micro DevicesÂ announced microprocessor price cuts earlier this month. AMD slashed prices on its top-of-the-line desktop PC microprocessors by a few hundred dollars, and now offers six AMD Athlon dual-core microprocessors for below $100 each. The AMD move was aimed atÂ pre-empting Intel's anticipated July reductions, according to a report by investment banking firm Goldman Sachs Group. The expected price cuts are a continuation of Intel's battle for market share against rival AMD. It's a fight that has been great for users, particularly in desktop PCs. Microprocessors are among the most expensive parts in a PC, so price cuts on the chips usually lead to better deals for users, either on lower PC prices or more add-ons, such as better DVD drives, more memory, or larger hard disks. The market share battles have also prompted both Intel and AMD to boost technology, resulting in more bang for a user's buck. The price war hasn't been so good for the companies. Intel's stock fell 4.8 percent to end at $25.06 per share on the NASDAQ stock exchange Wednesday, a day afterÂ the company reportedÂ a lower than expected profit margin for the second quarter. Analysts blamed the price war. The fight with Intel has caused AMD to report weaker earnings in recent quarters, and analysts are not optimistic about its second quarter earnings, which it will report later Thursday in the U.S. "We believe the worse than expected gross margin, higher than expected R&D [research and development] spending and low quality earnings leverage (tax rate changes, sold depreciation, etc.) will cast a shadow over [Intel's] stock," wrote Michael Masdea, chip analyst at Credit Suisse Securities (USA), in a recent report. He predicted that Intel gained market share on AMD in the second quarter, based onÂ its earnings report. Market researchers were not able to say exactly how muchÂ the PC marketÂ has slowed over the past few weeks, but indicated that the weaker sales have shown up in various places in the PC component supply chain. Slower trading in the DRAM (dynamic RAM) market, for example, caused prices to drop last week, according to DRAMeXchange Technology, which runs an online DRAM trading site. The company blamed the anticipated Intel price adjustments for the declines. Â
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The computer maker's earnings hit estimates but investors hoped for more.