Intel Earnings Push Semiconductors, Telecoms Higher
Shares of major semiconductor companies and telecom equipment firms rose Wednesday morning as solid a first-quarter report and outlook from chip maker Intellifted both sectors.
Here is a look at how the major chip companies fared in trading Wednesday morning:
Intel , up 96 cents, or 4.6 percent, to $21.88
Texas Instruments up 38 cents to $29.10
Qualcomm up 74 cents to $41.93
Advanced Micro Devices up 16 cents, or 2.8 percent, to $5.94
Here is how some key telecom equipment stocks performed Wednesday morning:
Cisco Systems rose 49 cents, or 2.1 percent, to $23.60.
Alcatel-Lucent American Depositary Shares rose 17 cents, or 2.9 percent, to $5.95.
Nortel Networks rose 24 cents, or 3.5 percent, to $7.09.
Juniper Networks rose 50 cents, or 2.2 percent, to $23.23.
Intel, the world's largest maker of semiconductors, on late Tuesday boosted its forecast for the current quarter, saying it expects sales of $9 billion to $9.6 billion, compared with current estimates of $9.24 billion.
For the first quarter, Intel said its net income fell to $1.44 billion, or 25 cents per share, from $1.64 billion, or 28 cents a share, a year ago. Revenue rose to $9.67 billion from $8.85 billion.