After hours investors poured over results from Intel , trying to determine if the numbers will push the Dow through 10,000 on Wednesday.
Ahead of earnings analysts said that Intel would have to wow the Street to keep the rally going and it looks like they delivered.
Intel reported both profit and revenue that substantially outpaced expectations; specifically, Intel earned 35 cents a share on revenue of $9.39 billion in the third quarter.
The firm also forecast fourth-quarter sales of $10.1 billion, give or take $400 million. It put its fourth-quarter gross margin at 62 percent, plus or minus 3 percentage points
Intel may have finally found its groove, says CNBC’s Jim Goldman
What’s the trade, now?
In the after hours AMD and NVDIA both traded higher, observes Joe Terranova. The numbers should lift the entire chip sector on Wednesday. I think this changes how the entire market sets up, going forward, he adds . It says IT spending will lead us out of recession. I expect the PC upgrade cycle will lead us higher.
CEO Paul Otellini has been telling the Street how strong everything was at Intel for about 2 months now, muses Pete Najarian. We just didn't want to listen. But these earnings say it all. They are not just a beat they’re an absolute crush.
The price action in this stock is outstanding, muses Guy Adami. It’s broken through resistance so what was resistance, 20.5, becomes support. I own the stock but I was not a believer ahead of earnings.
I thought their forward guidance was impressive, says Karen Finerman. It’s extremely aggressive. They didn’t have to guide that high, but they did. That’s what speaks to me.
> Click here for complete coverage of Intel earnings
And in a first on CNBC interview Jim Goldman spoke with Intel CFO Stacy Smith. It’s a conversation you won’t want to miss. Click here to see that video.
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Trader disclosure: On Oct. 13th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (UNG); Finerman's Firm Is Short (USO); Finerman's Firm Is Long Puts & Calls (MDY); Finerman's Firm Owns (BAC), (BAC) Calls, (BAC) Call Spreads, (BAC) Preferred; Finerman Owns (RIG), (PDE); Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (MSFT), (TGT), (PDE), (BRCM), (WMT), (RIG); Finerman's Firm Owns (WLP) Calls; Finerman's Firm Owns (UNH) Calls; Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Owns (WLP) Calls; Terranova Owns (JPM), (JOYG), (NOV), (GS); Terranova Is Short (GRMN), (CCL); Terranova Owns Dec. 2009 Gold Futures; Terranova Owns Dec. 2009 Crude Oil Futures; Terranova Owns Dec. 2010 Crude Oil Futures; Terranova Works For (VRTS); Najarian Owns (BRCD) Calls; Najarian Owns (C) Calls; Najarian Owns (DELL) Call Spread; Najarian Owns (INTC), Is Short (INTC) Calls; Najarian Owns (GE) Calls; Najarian Owns (JPM) Calls; Najarian Is Short (JOYG) Calls; Najarian Owns (LAZ) & Short (LAZ) Calls; Najarian Owns (MYL) Puts; Najarian Owns (TEVA); Najarian Owns (YHOO) Call Spread
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