Tony:
Here's more information from several blurbs in the WSJ-Interactive. Each one is from a different article, but the URL's are absurdly long, so I didn't include them.
<1> "Intel Corp. (INTC) also was trading after hours. As reported earlier, one of the chip maker's longtime cheerleaders, Mark Edelstone of Morgan Stanley Dean Witter, cut his investment opinion on the stock to outperform from strong buy because the company has hit a snag in moving to a smaller circuit size on some Pentium III chips. Intel, however, says the delay isn't going to have much of an impact on earnings, and some Wall Street analysts agree.
Intel recently traded at 55, according to Instinet, compared with its regular-session close of 54 15/16, down 3 1/16, or 5.3%, on volume of about 39.8 million shares."
<2> "Intel expcts to meet its targets for .18 micron Pentium III chips that are used in servers and workstations. For desktop PCs, the .18 micron Pentium IIIs will be introduced in November, rather than September.
And Intel will meet the scheduled release date for laptop Pentium IIIs at .18 micron, but it will do so at 500 megahertz instead of 600 megahertz as originally planned, a spokesman said. This will be the first Pentium III chip used in laptop computers."
<3> "In the case of Intel, opinions diverged: some analysts dismissed the chip delay as a minor stumble, while two others partly used the news to justify trimming their earnings estimates. One of these analysts even downgraded the stock. Hurt by the analysts' moves, Intel shares fell 2.8% Thursday and fell another 5.3% Friday."
<4> "Other analysts said the delay -- highlighted by Edelstone Friday and Thursday by Credit Suisse First Boston -- is relatively minor. Edelstone didn't return two calls for comment.
Intel says the delay isn't going to have much of an impact on earnings, and other Wall Street analysts agreed.
'This change will not have a material impact on our financial results,' said an Intel spokesman.
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But other analysts said the delay was little more than a tarnish on Intel's reputation for prowess in the lab.
'These are not major hiccups, just minor issues,' said Ashok Kumar, an analyst at US Bancorp Piper Jaffray. 'It is a black eye in that (Intel's) production has been flawless' in the past.
Kumar and other analysts said the affected chip is expected to be introduced at the very high end of Intel's laptop line, which in total makes up between 15% and 20% of its total sales."
Adam
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