Intel reported a better than expected earnings and futures are flying.
http://money.cnn.com/markets/afterhours
http://money.cnn.com/markets/afterhours
Bet the UP on the NASDAQ Tomorrow
- Thread starter Myron
- Start date
From Marketwatch.com
AFTER HOURS
Intel's update ignites tech stocks
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 5:53 PM ET Sept. 5, 2002
SAN FRANCISCO (CBS.MW) - Intel, despite pushing revenue targets to the low-end of previous estimates, injected some life into Thursday's ailing tech marketplace as shares of the chip giant leaped almost 5 percent following the company's mid-quarter update.
CBS MARKETWATCH TOP NEWS
Intel cuts top end of sales goal
Stocks fall on economic, technology concerns
War talk, OPEC point to higher oil prices, analysts say
U.S. rates dive to new lows
The tech-laden Nasdaq-100 After Hours Indicator also reacted with a swift post-bell uptick, adding 15 at 898.
Earlier, international fears coupled with the potential for disappointment from Intel rocked the broad market. The Dow plunged 141 to close at 8,284 while the Nasdaq fell 41 to finish the day at 1,251. See Market Snapshot.
Intel to color late trade
Intel shares (INTC: news, chart, profile) were by far the most-actively exchanged on the Island ECN, adding 69 cents to the $15.11 closing level. The company said third-quarter sales would be slightly below the midpoint of its target range of $6.3 billion to $6.9 billion.
According to a press release, microprocessor unit sales are trending toward the lower end of a normal seasonal pattern for the quarter, which ends Sept. 28.
Analysts had been cutting estimates for Intel's targets for weeks as expectations have dimmed for the back-to-school shopping and holiday season.
Currently, analysts polled by Thomson Financial/First Call expect the Dow component to earn 13 cents a share on revenue of $6.59 billion in the third quarter.
Share your thoughts on the chip kingpin in CBS MarketWatch.com's Intel Discussion.
Late spotlight
The semiconductor sector perked up substantially in the wake of Intel's update with fellow chipmaker Broadcom (BRCM: news, chart, profile) and equipment leader Applied Materials (AMAT: news, chart, profile), jumping 3 percent and 5 percent, respectively.
Other late-session notables like Cisco (CSCO: news, chart, profile), Oracle and Sun Micro (SUNW: news, chart, profile) joined the bull wave after the close as each stock vaulted almost 2 percent higher.
Even Concord EFS shares (CEFT: news, chart, profile) made a mild recovery with a 1 percent rebound. The e-transaction processor saw its shares shed about a quarter of their value on Nasdaq-topping volume early. The company said that full-year 2002 earnings would fall short of consensus analyst forecasts.
Shawn Langlois is community editor for CBS.MarketWatch.com in San Francisco.
AFTER HOURS
Intel's update ignites tech stocks
By Shawn Langlois, CBS.MarketWatch.com
Last Update: 5:53 PM ET Sept. 5, 2002
SAN FRANCISCO (CBS.MW) - Intel, despite pushing revenue targets to the low-end of previous estimates, injected some life into Thursday's ailing tech marketplace as shares of the chip giant leaped almost 5 percent following the company's mid-quarter update.
CBS MARKETWATCH TOP NEWS
Intel cuts top end of sales goal
Stocks fall on economic, technology concerns
War talk, OPEC point to higher oil prices, analysts say
U.S. rates dive to new lows
The tech-laden Nasdaq-100 After Hours Indicator also reacted with a swift post-bell uptick, adding 15 at 898.
Earlier, international fears coupled with the potential for disappointment from Intel rocked the broad market. The Dow plunged 141 to close at 8,284 while the Nasdaq fell 41 to finish the day at 1,251. See Market Snapshot.
Intel to color late trade
Intel shares (INTC: news, chart, profile) were by far the most-actively exchanged on the Island ECN, adding 69 cents to the $15.11 closing level. The company said third-quarter sales would be slightly below the midpoint of its target range of $6.3 billion to $6.9 billion.
According to a press release, microprocessor unit sales are trending toward the lower end of a normal seasonal pattern for the quarter, which ends Sept. 28.
Analysts had been cutting estimates for Intel's targets for weeks as expectations have dimmed for the back-to-school shopping and holiday season.
Currently, analysts polled by Thomson Financial/First Call expect the Dow component to earn 13 cents a share on revenue of $6.59 billion in the third quarter.
Share your thoughts on the chip kingpin in CBS MarketWatch.com's Intel Discussion.
Late spotlight
The semiconductor sector perked up substantially in the wake of Intel's update with fellow chipmaker Broadcom (BRCM: news, chart, profile) and equipment leader Applied Materials (AMAT: news, chart, profile), jumping 3 percent and 5 percent, respectively.
Other late-session notables like Cisco (CSCO: news, chart, profile), Oracle and Sun Micro (SUNW: news, chart, profile) joined the bull wave after the close as each stock vaulted almost 2 percent higher.
Even Concord EFS shares (CEFT: news, chart, profile) made a mild recovery with a 1 percent rebound. The e-transaction processor saw its shares shed about a quarter of their value on Nasdaq-topping volume early. The company said that full-year 2002 earnings would fall short of consensus analyst forecasts.
Shawn Langlois is community editor for CBS.MarketWatch.com in San Francisco.
-150 at Carib. Opened at -120.
Still well worth it. I predict -250 or higher by midnight when it closes.
Also with Intel and Microsoft being the largest of the gainers after hours, the Dow at -120 on the Up is also a great bet. Generally speaking the GMs and 28 other blue collar stocks that make up the dow have little influence on its results. Most of the movement is always by Intel and Microsoft.
Still well worth it. I predict -250 or higher by midnight when it closes.
Also with Intel and Microsoft being the largest of the gainers after hours, the Dow at -120 on the Up is also a great bet. Generally speaking the GMs and 28 other blue collar stocks that make up the dow have little influence on its results. Most of the movement is always by Intel and Microsoft.
I would be afraid of placing a bet on either side simply because of the volatility of the market right now. How many days have you seen a strong opening or good news after market that sends stocks soaring, just to see those gains wiped out on a reversal. Also, we have been trending lower lately and why fight the market. All it takes is one negative announcement right now, and everyone will forget about any positive comments(which weren't really that positive). It has been my experience that post market rallys are not indicative of the next days activity. Also, lately it seems that people are not buying into the weekend. There must be a catalyst to move the market upwards and I am not sure this is one. Considering all that has happened in the past couple of years, good days have been rare, and I think with September 11th coming next week, why would you buy into uncertainity. Most people will probably want to be cash heavy in case something happens. At least that is what I am seeing in my office. So, my opinion is to take the doggie downer, but what do I know.
