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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Flagrante Delictu who wrote (16465)	3/4/1998 5:26:00 PM
From: tonyt	Respond to of 32384

Bloodbath tomorrow: Intel Warns Profit, Revenue Will Fall Short of Estimates Dow Jones Newswires SANTA CLARA, Calif. -- Intel Corp. warned that its first-quarter earnings will fall short of estimates, with revenue slipping 10% from the fourth quarter's $6.5 billion, as a result of weak near-term demand in the personal-computer sector. After the market closed Wednesday, Intel projected that gross margin for the first quarter would fall to 53% from the fourth quarter's 59%. The company's estimate of its margins and revenues for the first quarter represent a scaling back of expectations since Intel made its last first quarter projection Jan. 13. At that time, the company said it expected gross margins to fall a few points from fourth quarter levels. In January, Intel said that revenue in the first quarter would be about flat with fourth-quarter revenue. Intel also said Wednesday that its acquisition of Chips & Technologies Inc. will result in a first-quarter charge of $165 million, or nine cents a share, to write off in-process research and development. For its year-ago first quarter ended March 29, 1997, Intel earned $1.98 billion, or $1.10 a share after a 2-for-1 stock split, on revenue of $6.45 billion. A First Call survey of 31 analysts showed a consensus estimate that the company would earn 93 cents a share for the latest quarter. Separately, Intel said it will unveil in April a processor for low-end personal computers, reversing the chip-making giant's strategy of focusing on high-end, high-margin PC chips. The company said that while its prior strategy was to design powerful processors aimed at the top end of the computer market segment, it is now "aggressively" moving its architecture into the entry level with the new chip, which will be sold under a new brand name, Celeron. Intel said the Celeron processor, which is based on the same Intel P6 microarchitecture as the Pentium II processor, will provide a cost-effective solution for PC manufacturers designing basic systems. The company, which said Celeron systems will be available for purchase by midyear, also said it plans to unveil a new branded processor for enterprise servers and workstations later this year. Microsoft Corp., for one, has been seen as a beneficiary of the sub-$1,000 because it receives a flat $45 for each computer sold, no matter how low-priced, using its industry-standard operating system. Intel, on the other hand, which has been trying to hold the line on microprocessor prices, could lose big, at least temporarily. Instead of Intel's well-known brand, most of the less expensive models contain cheaper chips from its rivals Advanced Micro Devices Inc. and National Semiconductor Corp.'s Cyrix unit. The warning and the new chip were announced after the close of trading Wednesday. In Nasdaq Stock Market trading, shares of Intel added $1.125 to $86.4375.