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Two Ways: Economy Chips Away at Intel's Revenues

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Strengthen your portfolio in good times and bad.

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Worst Behind Intel?

Intel (INTC) is calling a bottom in computer sales. The world's largest maker of central processing units said net income fell 55% for the period, with earnings coming in at $0.11 a share, or $0.08 better than Wall Street estimates.

Revenues, meanwhile, fell 26% year-over-year to $7.14 billion, above consensus of $6.98 billion. From an inventory correction and demand level adjustment perspective, Intel believes the worst is behind it. The company cited an early February low in desktop sales and strengthening order patterns throughout the quarter as evidence.

From the Bull Pen: Bulls might be seeing a correction at hand. But for a trade, one can look to Apple (AAPL) pulling back to $110 support as an upside opportunity. If and when.

From the Bear Cave: Although Intel beat the numbers, the 4% reaction in the premarkets is greater than the news itself. Bears can use the Semiconductor ETF (SMH) for a downside play; a buy stop can be set above $20.50.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.57%, Nikkei -1.13%, India 2.90%, Shanghai 0.35% and Taiwan -0.30%.

Glancing towards Europe, we see the CAC -0.52%, DAX -0.65%, FTSE -0.32%

As of 8:05 AM EST, S&P Futures are trading -4 to 836.00, and Nasdaq futures are -13 to 1310.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.82 to 50.23 while gold is +4.10 to 896.10 this morning. Silver is +0.740 to 12.860 and copper +4.65 to 216.15.

The dollar index is +0.5150 to 85.4400.

On the Radar

Economics

07:00 MBA Mortgage Applications
08:30 Core CPI 0.1%
08:30 CPI 0.2%
08:30 Empire Manufacturing -35.0
09:00 Net Long Term Tic Flows
09:15 Capacity Utilization 69.7%
09:15 Industrial Production -0.9%
02:00 Fed's Beige Book

Click here for the full trading radar.

Hump day, Minyans! Let's finish this week strong! Good luck!



In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

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