P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: LTK007 who wrote (24128)	1/14/2003 8:14:39 PM
From: DebtBomb	Read Replies (1) of 30712

Where?s The Beef? The numbers beat lowered estimates only after excluding items. Intel was able to meet its estimates by buying back 59 million of its shares, which helped to drive the EPS numbers up. During the quarter, the company also laid off 3.6% of its workforce. The expense exclusions and the share buybacks helped them beat estimates. Furthermore, the company cut capital expenditures for the year. Capital spending will fall to a range of $3.5-$3.9 billion which is much lower than anticipated. The company followed up its earnings report by saying that it expects to see a lower first half of the year, and that it sees no underlying economic growth this year. The company CFO said it doesn?t know if PC demand is recovering. The company also expects to lose money and write down losses on equity investments during Q1 of this year. financialsense.com

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