Intel Rallies On Results, Upbeat Outlook

Shares of Intel Corp. (INTC) rose more than 7% in premarket trading Wednesday, a day after the world's largest semiconductor company reported a second-quarter net loss on a major fine imposed by the European Union.

However, the Santa Clara, Calif., chip giant posted adjusted earnings that exceeded Wall Street's projections. And in its first formal outlook in two quarters, Intel said it expects third-quarter revenue to come in better than estimates as well.

"While the global economic environment is still recovering, our customers signaled increased confidence for a seasonal second half with their ordering patterns," Intel Chief Executive Paul Otellini said in a call with analysts. "From a consumption perspective, consumer purchases led the way."

Read Full Article from Wall Street Journal

- Posted: 2009-07-15 10:54:07

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