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

To: exhon2004 who wrote (75962)	3/9/1999 9:54:00 PM
From: Glenn D. Rudolph	Respond to of 186894

Intel declines comment as rumors swirl about Q1 SAN FRANCISCO, March 9 (Reuters) - Intel Corp. <INTC.O> declined to comment on market rumors that the microchip group would soon pre-announce a first quarter earnings shortfall, fueling a drop in its stock Tuesday. "I can't comment on market rumors," said Tom Waldrop, a spokesman for Santa Clara, Calif.-based Intel. Intel shares dropped $4.31 to $115.31 in very heaving trading, especially in the last hour before the market closed. Traders and fund managers said they had been hearing the rumor in the last hour or so of trading and they were not surprised by it, given the current PC industry environment. "Just based on what we know about the PC business, it wouldn't be too surprising if things were a little bit light," said one fund manager who asked not to be named. Earlier this month, the world's biggest PC maker, Compaq Computer Corp. <CPQ.N> warned of weaker-than-expected demand for personal computers. Last month, high-flyer Dell Computer Corp. <DELL.O> reported slower-than-expected fourth quarter revenue growth. Analysts also said that news of a significant loss in the first quarter from Intel rival Advanced Micro Devices Inc. <AMD.N> late Monday was also putting pressure on chip stocks.

To: exhon2004 who wrote (75962)	3/9/1999 10:14:00 PM
From: Paul Fiondella	Respond to of 186894

Kumar speaks "But analysts who follow Intel said that each quarter has been rife with rumors about Intel's earnings, and last quarter the rumors went in the opposite direction. ''Expectations have been getting out of whack,'' said Ashok Kumar, a Piper Jaffray analyst. ''The company's guidance has always been flat to down (revenues versus the fourth quarter)...Will there be a shortfall relative to expectations, yes, will there be a shortfall relative to guidance, no." In January, when Intel reported fourth quarter earnings, it forecast that first quarter revenues would be flat to down versus the fourth quarter. According to First Call, the consensus for Intel's first quarter is $1.10 a share. Kumar said he has not changed his estimates, which are around $1.10 a share. Analysts said news of a significant loss in the first quarter from Intel rival Advanced Micro Devices Inc. (NYSE:AMD - news) late Monday was also putting pressure on chip stocks Tuesday."