Intel (INTC) has wiped some of the smile off the exceedingly happy face it presented six weeks ago, when it reported its "best quarter" ever and gave a bullish outlook.The business bellwether on Friday lowered the buoyant guidance it gave July 13.Intel now expects revenue of $10.8 billion to $11.2 billion this quarter. Six weeks ago, it expected $11.2 billion to $12 billion.The No. 1 chipmaker often sets the tone with its quarterly results, the first in the cycle among big tech firms, but not...Read Full Story
TECHNOLOGYMicrosoft Xbox gets lower priceThe software giant said it'll cut the price of the Xbox 360 Elite, its priciest video game console, by $100 to $299.99 as of Fri., stepping up a price war. Microsoft MSFT will keep its entry-level Xbox Arcade model at $199.99 and phase out its mid-range Pro console. The news comes days after Sony SNE dropped the price of its PlayStation 3 to $299. Nintendo says it has no plans to lower the price of its best-selling Wii, which sells for $249, despite...Read Full Story
Stocks remained higher in early afternoon trading Monday, but they pared some gains.The NYSE composite was up 0.7%, down from 1% at session high. The Dow and S&P 500 added 0.6% each, while the Nasdaq climbed 0.4%. Volume was again tracking sharply lower on both exchanges. Geokinetics GOK tacked on 7% to a fresh 10-month high. It continued to follow through after clearing a 15.61 buy point from a cup-with-handle pattern Thursday. The provider of seismic data lost money for the past five years...Read Full Story
Stock index futures moved higher early Friday ahead of a speech by Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter gross domestic product.S&P 500 futures rose 3 points in the pre-market and were above fair value. Dow futures advanced 25 points. Nasdaq 100 futures climbed 8.5 points.The second estimate of second-quarter GDP is due at 8:30 a.m. EDT. Economists expect an annualized growth rate of 1.4%, down from a previous estimate of 2.4%.Meanwhile, Bernanke will speak...Read Full Story
TECHNOLOGYChip sales climb 5% sequentiallyInt'l sales of semiconductors hit $18.2 bil in July, up 5% from sales of $17.2 bil in June, but down 18% from a year ago, the Semiconductor Industry Association said. It was the fifth consecutive month of sequential increases in chip sales, reflecting improving demand in the consumer sector. But the SIA said purchases by the enterprise sector continue to be tempered by caution and longer replacement cycles.Apple AAPL has set Sept. 9 as the date for...Read Full Story
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