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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