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Two Ways: Intel Gives Jolt to Stocks

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Strengthen your portfolio in good times and bad.

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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

Economics

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!
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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