RealTime IT News

Intel Lowers Guidance

Intel ended 2003 with its best second half in years, but that couldn't prevent the company's usual first-quarter slowdown.

Intel narrowed its first-quarter revenue guidance to $8-8.2 billion after the close on Thursday, in the middle of its previous $7.9-8.5 billion guidance range, but below $8.27 billion estimates.

"Demand for the company's Intel Architecture products is consistent with the lower end of normal seasonal patterns and significantly higher than in the same period last year," the company said in a statement, adding that demand for its communications products is tracking in line with expectations.

Intel's stock was down about 1% after hours.

Also after the close, WebMD announced a $100 million investment from CalPERS. Symbol Tech missed estimates, and TiVo beat estimates.

The market was mixed during the day ahead of Intel's mid-quarter update and Friday's February employment report.

The Nasdaq surged 21 to 2055, the S&P 500 gained 3 to 1154, and the Dow slipped 5 to 10,588. Volume declined to 1.26 billion shares on the NYSE, and 1.81 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 64% on the NYSE, and 70% on the Nasdaq. New highs-new lows were 315-2 on the NYSE, and 196-5 on the Nasdaq.

AskJeeves soared 40% after raising estimates and making a big acquisition.

Dell was unchanged after Michael Dell stepped down as CEO.

Serena lost 4% on its acquisition, and Mamma.com tumbled 13% on the acquisition of Digital Arrow.

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