INTC ALREADY PLANNING FOR ITS Q4 REPORT; WON'T MAKE ITS NOS ON THEIR ASPS AND THEY CAN'T AFFORD TO DISAPPOINT THE ANALYSTS AGAIN, SOOOOO YOU START SELLING YOUR ASSETS:
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Intel files to sell $20.7 mln in CMGI<CMGI.O>stock
WASHINGTON, Nov 4 (Reuters) - Intel Corp. <INTC.O>, the world's largest computer chip maker, has filed with regulators to sell about $20.7 million in stock it holds of CMGI Inc. , an Internet venture capital firm.
Intel filed on Nov. 3 to sell 200,000 shares out of an estimated 4 million shares it holds in CMGI, according to a recent Securities and Exchange Commission filing.
"We're always looking at public market conditions, looking for opportunities to sell part of our investments or all of our investments, and so what we'll do is decrease our stake in some companies to recoup some of our capital and then redirect that back into new investments," said Robert Manetta, a spokesman for Intel.
"Our goal is to grow the Internet economy and grow the computing industry because that's good for us and it can be good for a lot of different folks," he said.
Manetta declined to confirm whether the transaction has taken place.
CMGI shares are up 1/4 to 104-1/8 and Intel shares are up 1-3/8 to 81-1/8 on Nasdaq.
21:19 11-04-99
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