Intel Warns Of Earnings Drop

Fri., Sept. 22, 2000

Intel Corp. Thursday warned that its third-quarter revenues will be significantly below Wall Street’s expectations.

The news sent shares of Intel down $12.92, or 21 percent, to $48.06, after finishing the regular trading session on the Nasdaq Stock Market at $61.48, down $1.58.

The Santa Clara, Calif.-based chip maker said its revenue for the period ending Sept. 30 will range between $8.5 billion and $8.7 billion, about 3 percent to 5 percent higher than second-quarter revenue of $8.3 billion.

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Intel Warns Of Earnings Drop

Jesse Tinsley

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