I don't watch CNBC. I knew there had to be a reason. So what does everyone think of the INTC news?
biz.yahoo.com
Intel positive on revenue forecast, stock up
Thursday June 3, 4:30 pm ET
SAN FRANCISCO, June 3 (Reuters) - Intel Corp. (NasdaqNM:INTC - News), the world's largest microchip maker, on Thursday narrowed the range of its quarterly revenue forecast to the upper end, citing better-than-expected performance in its communications business.
Shares of Intel, which fell 2 percent to $27.41 in regular trade on Nasdaq, rose to $28.06 in after-hours trading on INET.
Intel said it now expected revenue of $8.0 billion to $8.2 billion, with a gross profit margin of 60 percent to 61 percent for the second quarter ending June 26. In April, Intel forecast quarterly revenue in the range of $7.6 billion to $8.2 billion, and gross margins of about 60 percent.
The Santa Clara, California-based chip maker also said a state income tax audit relating to earlier returns will reduce its income tax expense by about $60 million in the quarter.
All other expectations remain unchanged, Intel said. |
