RealTime IT News

Intel Ups Guidance Again

Intel's best quarter in years keeps getting better.

For the second time in as many weeks, Intel raised its revenue guidance after the close on Thursday.

Intel raised its third-quarter expectations from $7.3-$7.8 billion to $7.6-$7.8 billion.

The chip giant said its Architecture business continues to experience strong, broad-based demand, especially in emerging markets, while demand for communications products remains soft. The company will report third-quarter earnings on October 14.

Intel rose more than 1% after hours on the news, capping yet another strong day for tech stocks.

The Nasdaq rose 16 to 1868, the S&P 500 added 1 to 1027, and the Dow gained 19 to 9587. Volume declined to 1.46 billion shares on the NYSE, and 1.9 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 18-13 on the Nasdaq. Upside volume was 54% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 318-12 on the NYSE, and 355-6 on the Nasdaq.

National Semi surged 11% on better than expected results. Cypress edged higher after boosting guidance.

AMD rose 6% on a cluster contract.

Roxio gained 5% on takeover rumors.

Ciena climbed 1.5% on a contract win, and eBay rose 2% on the acquisition of FairMarket .

PeopleSoft slipped as it discussed its plans for J.D. Edwards.

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