Intelhad no surprises for investors during its mid-quarter update late Thursday, but Texas Instrumentsgave shareholders a nice surprise by raising guidance well above analysts’ estimates.
Intel said it expects revenues of $9.8-$9.10 billion for the third quarter, driven by strong notebook sales, but held back by the company’s ability to meet demand. That’s right in the middle of the company’s previous $9.6-$10.2 billion guidance, and in line with Wall Street estimates of $9.92 billion in sales. Intel forecast gross margins of 60%, also in line with estimates.
With the report as expected, shares of Intel fell 1% after hours.
Texas Instruments fared better, rising 1.2% after the company predicted earnings of 36 to 38 cents a share on sales of $3.48-$3.62 billion, citing broad demand for its chips. Analysts were looking for earnings of 35 cents on revenues of $3.45 billion.
Stocks slipped during Thursday’s trading session after oil prices halted a four-day slide.
The Nasdaq lost 6 to 2166, the S&P slipped 4 to 1231, and the Dow fell 37 to 10,595. Volume declined to 1.96 billion shares on the NYSE, but rose to 1.63 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 17-12 on the Nasdaq. Downside volume was 64% on the NYSE, and 49% on the Nasdaq. New highs-new lows were 158-24 on the NYSE, and 112-35 on the Nasdaq.
eBayfell 4% on reports that the company could buy VoIP firm Skype.
National Semijumped 6% after the company blew past estimates.
Rambussoared 20% on takeover rumors.
Applerose 2% on a CSFB upgrade.
Comverseclimbed 3% after beating estimates, and Ulticomjumped 17% on its results.