Rochester,NY 7/9/2009 1:50:05 AM
Afternoon Movers - INTC - Stocks, Oil Continue Skid - Sourced WhisperFromWallStreet.com
Intel Corporation
Afternoon Movers - INTC - Stocks, Oil Continue Skid - Sourced WhisperFromWallStreet.com
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Intel Corporation, INTC
After Hours: 15.89 -0.36 (-2.22%) 2:43pm ET
Stocks were lower as a new earnings season approached and crude-oil prices continued to fall.
The Dow Jones Industrial Average was recently down about 58 points after its 161-point slide Tuesday. Its component Alcoa sank 2% ahead of its second-quarter report, due after the closing bell.
Financials were particularly weak, with Bank of America down 6%. Fellow Dow component Intel, which is the next to report earnings next week, slid 2.3%.
That release will mark the symbolic start of the broader reporting season, which is likely to be lackluster. Wall Street is expecting an eighth straight quarter of declining profits in the S&P 500, led by raw-materials producers whose year-ago numbers will be tough to beat after the bursting of a multi-year commodity bubble last summer.
The broad Dow Jones-UBS Commodity Index was recently down about 2.5%, off more than 50% from its record set more than a year ago. Oil futures, which have been under particularly heavy pressure lately, were down $2.26 at $62.93 a barrel after a weekly report showed a build in U.S. fuel inventories.
About
Intel Corporation designs, manufactures, and sells integrated circuits for computing and communications industries worldwide. It offers microprocessor products used in desktops, nettops, workstations, servers, embedded products, communications products, notebooks, netbooks, mobile Internet devices, and consumer electronics, as well as in embedded designs, such as industrial equipment, point-of-sale systems, panel PCs, automotive information/entertainment systems, and medical equipment. The company also provides chipset products that send data between the microprocessor and input, display, and storage devices, such as keyboard, mouse, monitor, hard drive, and CD or DVD drives; motherboards that has connectors for attaching devices to the bus, and contains the CPU, chipset, memory, and other components used in the desktop, workstation, and server platforms; wired and wireless connectivity products, including network adapters and embedded wireless cards.
Last Trade: 15.85
Day's Range: 15.78 - 16.36
52wk Range: 12.05 - 24.75
Volume: 55,525,805
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