Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, July 17, 2009

Article Excerpt

INTEL CORP., $18.79, Nasdaq symbol INTC, jumped over 15% after it reported better-than-expected earnings. The chipmaker earned $1 billion, or $0.18 a share, in the three months ended June 27, 2009. That’s down 34.5% from $1.6 billion, or $0.28 a share, a year earlier. Still, it was far ahead of the $0.08 a share that analysts were expecting. The latest earnings exclude a $1.4-billion fine imposed by European competition regulators, which ruled in May that Intel illegally offered rebates to computer makers. In exchange for the rebates, these manufacturers would agree to buy most of their chips from Intel. The company plans to appeal the ruling. Revenue fell 15.3%, to $8 billion from $9.5 billion a year earlier. The drop was caused by the recession, which continues to dampen new-computer demand. However, sales of Intel’s new Atom chip jumped 65%. Intel designed Atom to run small netbook computers, which are selling faster than traditional desktops and laptops because of their lower prices…