Niles does not believe Intel will have to pre-announce
04:14 PM ET 06/01/99
CORRECTED - Intel falls amid analyst comments on Q2
In San Francisco item headlined "Intel falls amid
analyst comments on Q2", please read in the third paragraph,
"...revenues of $7.032 billion..." instead of "...revenues of
$7.32 billion..." (correcting figure)
A corrected repetition follows.
SAN FRANCISCO, June 1 (Reuters) - Shares of Intel Corp.
fell in active trading after an analyst at BancBoston Robertson
Stephens made negative comments about the company's second
quarter, traders said.
Dan Niles, a BancBoston Robertson Stephens analyst, said
Tuesday that he expects Intel's second quarter earnings to be
two cents lighter than what he is projecting, but that he does
not believe Intel will have to pre-announce, traders said.
Niles had previously been looking for Intel to report
second quarter earnings of 53 cents a share, on revenues of
$7.032 billion, his office said. Niles was not available for
comment and his office could not confirm his comments.
In April, Niles lowered his rating on Intel to long term
attractive, from a strong buy.
"He has been very negative on the stock," said one
technology trader. No further information on Niles' comments
was immediately available. Intel shares were off $3.4375 to
$50.625 in very active trading.
((Therese Poletti, SF Bureau, 415/677-2542)) |
