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Two Ways: Intel Gives Jolt to Stocks


Strengthen your portfolio in good times and bad.

Intel Surprise

Stock futures are getting a lift from Intel's (INTC) second quarter performance. The world's largest chipmaker blew away expectations last night by reporting earnings of $0.18 per share, 10 cents better than Wall Street estimates. Revenues fell 15.4% year-over-year to $8.02 billion, but still above estimates of $7.28 billion.

More importantly, Intel guided higher for the third quarter. The company sees revenues coming in at $8.1-8.9 billion while Wall Street is expecting $7.81 billion. It also expects gross margins in the range of 51-55% above consensus of 49.76%. Shares are up 6.5% in the premarket.

From the Bull Pen: Intel looks to be a longer term buy. Those bullish can start an initial position here, but be prepared for the stock to fill its gap, so a sell stop can be set below $16.80-ish.

From the Bear Cave: For a bearish tech play, one can look elsewhere like Nokia (NOK). Near the $16-16.50 range could be an opportunity for a downside attempt. A buy stop can be set above $16.60.

Quick Check Around the World

Asian trading closed with the Hang Seng 2.09%, India 2.88%, Shanghai 1.38%, Nikkei 0.08%, and Taiwan 1.49%.

Glancing towards Europe, we see the FTSE 1.65%, CAC 2.01%, DAX 1.91%

As of 8:10 AM EST, S&P Futures are trading +10.75 to 912.25 and Nasdaq futures are +25.75 to 1472.50.

A Look at Commodities

Over in commodities, crude oil is trading +0.88 to 60.40 while gold is +10.8 at 933.60 is morning. Silver is +0.340 to 13.20 and copper +8.00 to 237.00.

The dollar index is -0.7000 to 79.6700.

On the Radar


08:30 Core CPI 0.1% cons.
08:30 CPI 0.6% cons.
08:30 Empire Manufacturing -5.00 cons.
09:15 Capacity Utilization 67.9% cons.
09:15 Industrial Production -0.6% cons.
10:30 Crude Inventories
02:00 FOMC Minutes

Click here for the full trading radar.

Happy Hump Day! Good luck!
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No positions in stocks mentioned.

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