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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (101838)	3/30/2000 5:28:00 PM
From: Road Walker	Read Replies (2) \| Respond to of 186894

Ibexx and All, Well here's a pleasant surprise: Thursday March 30 5:03 PM ET Intel Settles Tax Issues, Sees Lower Q1 Taxes SANTA CLARA, Calif. (Reuters) - Intel Corp. (NasdaqNM:INTC - news) on Thursday said the U.S. Internal Revenue Service has ended a review of its tax returns through 1998 resulting in adjustments that will cut its first quarter tax provision by $600 million, or 17 cents a share. Intel, the world's largest maker of semiconductor chips for personal computers, said the adjustments were for the 'inter-company allocation of profits.' It said the tax gain reverses previously accrued taxes, which results in the lower tax provision. Intel said its previous guidance of a 31.7 percent tax rate for the year 2000 remains unchanged when excluding the $600 million reversal and other acquisition-related costs. Speak your mind Discuss this story with other people. [Start a Conversation] (Requires Yahoo! Messenger) Intel expects to report first quarter earnings after the close of the market on April 18. Santa Clara, Calif.-based Intel is expected to beat Wall Street estimates of a per share profit of 69 cents for the quarter, amid a full rebound in the semiconductor industry. Revenues, which Intel had predicted will be slightly down from the fourth quarter, could even be flat to down around 2 percent to 4 percent, analysts said. Intel shares ended trading off 4 7/8 at 127 on the Nasdaq market system. The news announcement came after the market closed.