Intel found a way to improve on what was already its best quarter in years, beating earnings and revenue estimates after the close on Tuesday.
Earnings of 25 cents a share, up 127% from the year-ago quarter, topped estimates of 23 cents a share, and revenues rose 20% to $7.83 billion, ahead of $7.72 billion expectations.
Intel’s fourth-quarter revenue guidance of $8.1-8.7 billion straddles $8.3 billion estimates, and projected 60% gross margins would exceed 58-59% forecasts.
Intel rose 2% after hours on the news. Also after the close, Novellus beat earnings and revenue estimates.
Stocks climbed during the day ahead of Intel’s report.
The Nasdaq rose 9 to 1943, the S&P 500 gained 4 to 1049, and the Dow climbed 48 to 9812. Volume rose to 1.25 billion shares on the NYSE, and 1.76 billion on the Nasdaq. Advancers led 18-13 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 57% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 416-8 on the NYSE, and 403-6 on the Nasdaq.
United Online and Earthlink
plunged on AOL’s plans to offer low-cost dial-up service under the Netscape name.
Documentum soared 17% on news that it will be acquired by EMC
. EMC also raised guidance, but its stock fell 8% anyway.
IBM slipped ahead of its earnings report Wednesday night.
Adtran tumbled 5% on in-line earnings and guidance.
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