Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 36.82

+1.5%

Dec 19 9:30 AM EST

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To: Dan3 who wrote (165804)	6/6/2002 6:44:53 AM
From: Road Walker	Read Replies (2) of 186894

Intel shares fall after Merrill downgrade LONDON, June 6 (Reuters) - Shares in the world's biggest microchip maker Intel Corp traded a dollar lower via the Instinet electronic brokerage system on Thursday, reacting to a downgrade by investment bank Merrill Lynch. By 1020 GMT the shares stood at $27.20, down from Wednesday's New York closing of $28.18, and traders said they expected the downgrade and share fall to weigh on the Wall Street opening. Market sources said on Thursday that Merrill Lynch cut its intermediate-term rating to "neutral" from "strong buy" ahead of its mid-quarter update. Merrill Lynch expects the group to tighten its second quarter outlook, with a slight bias toward the lower end of the earlier $6.4-$7.0 billion target range for revenues, perhaps to $6.5-$6.8 billion. Separately Morgan Stanley added Intel to a key list of stocks recommended to clients, according to market sources, as it believed that business in the telecoms and media sectors has stopped getting worse. Email this story - Most-emailed articles - Most-viewed articles

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