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Tuesday, January 17, 2006 

INTEL - Profit up but sales & forecast misses

Chart courtesy of stockcharts

Intel profit up but sales and forecast misses !!!

Intel reported its fourth-quarter today after the bell and according to report the profit rose 16% but its sales fell short of Wall Street's expectations due to lower-than-expected shipments of desktop computer chips. Intel earned $2.5 billion, or 40 cents a share, compared with $2.1 billion, or 33 cents a share, in the same period last year. Sales rose 6% to $10.2 billion but missed the expectations of analysts. Analysts estimated Intel would earn 43 cents a share, excluding stock option costs. Intel didn't say how much option costs impacted results. Its first quarter sales forecast was also below Wall Street's target, so bad news for the chip sector.
Tecnical Indicators for Intel : MACD + RSI + Fullsto - Bearish
Supports according to the chart above : 24.74 ; 23.79 ; 22.65 ; 22.45

AMD also today was one of the hot stocks of the session of today , after Merrill Lynch cut its rating to "sell" from "neutral" concerning the competition from Intel in 2006. On friday Deutsche Bank lowered its rating on Advanced Micro Devices Inc. to "sell" from "hold". These two downgrades push the stock from the highs of 37.46 to near 32.

Bad News for Global markets - Oil prices climbed past $66 a barrel Tuesday to close at their highest level since late September as Iran's resumption of its nuclear program and violence in Nigeria served to threaten global crude production. February crude added $2.39, or 3.7%, to finish at $66.31 a barrel.

Today Hot stocks

AMD - Advanced Micro Devices was downgraded at Merrill Lynch to sell.

BSX - Boston Scientific Corporation raised its offer to buy Guidant to about $27 billion.

NX - Quanex Corp. raised its first-quarter earnings outlook by 35% Monday, citing better-than-expected results at its building products division and lower scrap costs at its car products division.

DCN - Dana Corp. reported a third-quarter loss Tuesday of $1.27 billion, or $8.50 a share, and sales in the three months to Sept. 30, 2005, of $2.4 billion. In the same period a year ago, the Toledo, Ohio, auto parts maker reported net income of $42 million, or 28 cents a share and sales of $2.11 billion.

After Hours

Hotstocks : INTC , YHOO , IBM ,

Earnings for tomorrow 18 January : AVM , AIT , CIT , ET , EBAY , JPM

That's All, Have a nice evening !!!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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