Insider selling.
Grove has earned it.
cbs.marketwatch.com
Intel officers plan to sell company stock
By Amanda Tyler, CBS MarketWatch
Last Update: 7:49 PM ET Jan 31, 2000
See:NewsWatch
WASHINGTON (CBS.MW) -- Three Intel officers, including
Chairman Andrew Grove, filed to sell a combined 797,690 common
shares of the chipmaker, valued at an estimated $76.6 million in the
open market, according to regulatory filings released Monday.
Grove planned to sell 484,208 shares, valued at nearly $50 million,
while Vice President Albert Yu planned to sell more than 164,000
shares. Director Leslie Valdesz planned to sell 149,330 shares.
All three executives
planned to sell their
shares through
Merrill Lynch on
Jan. 18, when the
stock (INTC: news,
msgs) hit 105 3/4,
but just days after
the stock dropped
from its 52-week
high of 106 5/8.
Intel said it earned $2.4 billion, or 69 cents a share, during the fourth
quarter, excluding a one-time, acquisition-related $59 million
charge. This compares with $2.1 billion, or 60 cents a share, adjusted
for a stock split, in the year-ago quarter. The consensus analyst
estimate, compiled by First Call, called for the semiconductor
superpower to post a profit of 63 cents a share for the fourth quarter.
See related story.
Representatives from Santa Clara, Calif.-based Intel did
immediately not return calls.
An SEC Form 144 only shows a filer's intent to sell shares. Actual
verification of sales, when they occur, are required in later filings.
There are an estimated 3.3 billion shares of Intel outstanding. The
stock rose 4 15/16 to close at 98 15/16 Monday. |
