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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.

Exterior view of Intel headquarters in Santa Clara, California.
Paul Sakuma
Exterior view of Intel headquarters in Santa Clara, California.

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.