Intel Drives Tech Sell-Off as Data Looms
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A sell-off in tech stocks following Intel Corp.'s disappointing outlook pushed Asian shares lower on Friday, overpowering pockets of strength in some financial, consumer and industrial issues.
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Intel Corp. INTC.O, the world's   biggest maker of microchips, is expected to announce major job   cuts on Tuesday as part of a plan to trim $1 billion in costs   and regain its competitive edge, analysts and media reports   said.
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High-tech bellwether Intel Corp. lowered its financial outlook yesterday, providing the latest sign of the economy's doldrums.
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SHARES are set for a bumpy ride after Wall Street lost ground on the weekend, derailed by weak US jobs data and a poor prognosis from Intel which sparked worries for the health of the tech sector.
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As if Intel's profit bomb didn't put  enough of a damper on the summer-ending long weekend, investors  returning next week after Labor Day will be wary of a market  offering as much pitfall as promise.
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SAN FRANCISCO - Intel Corp.&#39;s shares fell more than 7 percent yesterday, a day after the computer chip giant&#39;s management lowered the company&#39;s financial projections after concluding businesses and consumers aren&#39;t in a spending mood.
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The AMD effect CNET has come out as the first organ willing to put a firm number on Intel's alleged upcoming mass layoff. The online rag reckons that up to 10,000 workers will be cleaved from Intel's payroll. Word of the layoffs should arrive next Tuesday after the stock markets close their regular trading sessions.â¦
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Intel Corp. INTC.O, the world's   biggest microchip maker, is set to announce sweeping job cuts   later on Tuesday, the Financial Times said, amid speculation   that up to 10 percent of its staff could go.
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In recent months, Intel delayed several chips and recalled other, defective ones. It overestimated demand, thereby causing an inventory glut.
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Shares of Intel Corp. INTC.O fell  more than 7 percent before the opening bell on Friday, a day  after the technology bellwether slashed its quarterly sales  outlook, and other technology stocks moved lower in tandem.
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Intel Corp's  sharp cut in its revenue outlook dragged down shares of personal computer makers on Friday, on fears that the chipmaker's problems could signal weak PC markets, analysts said.
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As if Intel's profit bomb didn't put  enough of a damper on the summer-ending long weekend, investors  returning this week after Labor Day will be wary of a market  offering as much pitfall as promise.
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Stocks fell on Tuesday, after microchip maker National Semiconductor Corp.  cut its quarterly revenue forecast, prompting a sell-off in the technology sector.
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Intel Corp.&#39;s upcoming mid-quarter report will be closely watched for signs of weak back-to-school computer sales, though recent market share gains in memory chips could help offset any softness in computer microprocessor demand.
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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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US technology shares tumbled on Friday after Intel Corp. , the world&#39;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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US technology shares tumbled on Friday after technology bellwether Intel Corp. (INTC.O: Quote, Profile, Research) slashed its revenue forecast, but blue chips were only moderately lower as drug and industrial stocks made solid gains.