blows out the extimate and surges in the afterhours. More proof this credit crisis, recession and liquidity crunch is fake. As I have been saying for awhile tech is not affected. Where is the recesiojn? I can;t find it. please help me find the recession.
It is still below yesterday's close. This is a definition of "surge" with which I am not entirely familiar. Looks like year-over-year revenue growth was 2% - might have something to with it.
Tell us your opinion as to what's more telling about the strength of the fundamental economy, a specific, niche product such as chips, or this: http://www.bloomberg.com/apps/news?pid=20601087&sid=anEtl6E.c_eU&refer=home CSX 3rd-Quarter Profit Falls 6.1% as Freight Declines (Update1) By Angela Greiling Keane Oct. 14 (Bloomberg) -- CSX Corp.'s third-quarter profit fell 6.1 percent as the third-largest U.S. railroad carried less freight in a slumping U.S. economy. Net income decreased to $382 million from $407 million a year earlier, the Jacksonville, Florida-based company said today in a regulatory filing. Per-share earnings rose to 94 cents from 91 cents because CSX reduced the amount of stock outstanding. Sales climbed 18 percent to $2.96 billion.... You're looking down the barrel of a loaded gun with Pepsico missing today (for the first time in YEARS), and the transports (canaries in the coal mine) getting ass reamed.
stock, I'm not saying this to be an ass, but to actually try and let you know that you may want to sell on the news and book a profit (if you agree, of course, that this news will sap Intel's momentum) : http://www.nytimes.com/2008/10/15/technology/business-computing/15chip.html?_r=1&oref=slogin Intel Warns Slowdown Could Hurt Chip Demand By ASHLEE VANCE Published: October 14, 2008 Intel, the worldâs largest producer of semiconductors, reported a strong third-quarter profit Tuesday but cautioned that the global economic downturn could hurt its business in the coming months. Intel executives noted weaker-than-expected sales of chips used in corporate computers. The company saw âsoftnessâ in September and continued to receive âmixed signalsâ from customers, said Intelâs chief executive, Paul S. Otellini, during a conference call with analysts. âIt is clear that the financial crisis is creating some signs of stress that may impact our business,â Mr. Otellini said. âSome customers in the channel are seeing little to no impact. Some of them are worried.â Mr. Otelliniâs caution is notable because he is usually more upbeat than his peers in the technology industry. Because Intelâs chips go into a wide range of business and personal computers, the company is seen as a technology bellwether. In recent weeks, major tech companies like I.B.M. and Oracle have been optimistic about their prospects despite the economic slump, while others, like SAP and Dell, have painted a gloomier picture. For the third quarter, which ended Sept. 27, Intel posted net income of $2.01 billion, up 12 percent from the $1.79 billion reported in the period last year. On a per-share basis, net income was 35 cents, up 17 percent from 30 cents a year ago. The results slightly exceeded the 34 cents a share expected by analysts polled by Thomson Reuters. Revenue for the third quarter was $10.22 billion â a 1.3 percent gain from $10.09 billion a year ago. Analysts had forecast revenue of $10.26 billion. Profit in the quarter was bolstered by a lower tax rate. The results also included a $162 million after-tax charge related to a joint venture in memory technology; the year-ago quarter included $125 million in charges. As has been the case for the last few quarters, Intel pointed to its notebook processors as one of the companyâs strongest businesses. Sales of Intelâs new Atom chip and related hardware for low-end notebooks reached $200 million during the quarter. But sales of higher-end processors used in business computers, a segment that Intel dominates, were weaker, said Intelâs chief financial officer, Stacy J. Smith. Chaos in the financial markets and the slowing economy has made it difficult for Intel to discern how either consumer or corporate spending will be affected in the fourth quarter, Mr. Smith said in an interview. As a result, Intel provided a wide forecast for fourth-quarter revenue, projecting that revenue will come in from $10.1 billion to $10.9 billion, compared with $10.7 billion last year. Typically, it narrows revenue predictions to a $600 million range. Intel plans to give investors more insight into the fourth quarter in an update on Dec. 4. While hardly a surprise given the current conditions, Intelâs concerns about the coming quarter jumped out at analysts who were more accustomed to an optimistic management. âEverybody is kind of ducking and covering a little bit right now,â said Rick Schafer, an analyst with Oppenheimer. Earlier this month, Intelâs main rival, Advanced Micro Devices, announced plans to split into two entities. Under the arrangement, A.M.D. will continue to design microprocessors while a new entity, owned jointly by A.M.D. and a fund controlled by the Abu Dhabi government, will manufacture them. A.M.D. is looking to shift its capital expenditures to the new company, allowing it to compete more effectively against Intel. Intel has had no trouble financing its own factories. Mr. Otellini declined on Tuesday to address A.M.D.âs actions. A.M.D. will report its third-quarter results Thursday. Next month, Intel will release a line of processors based on a new design. The tweaks should lead to chips that consume less power and can better handle complex business software. Shares of Intel closed at $15.93, down more than 6 percent, during regular trading Tuesday. The companyâs results, released after the market closed, sent shares up 3.7 percent in after-hours trading.
The stock is still up huge in the past five years. Also transport is just one component of the entire US economy.