Despite Intel Warning, Nasdaq Futures Positive
DEBORAH MARCHINI, CNN ANCHOR: Of course, that was not the only warning after the bell, chip maker Intel warned about fourth-quarter sales.</s>DAVID HAFFENREFFER, CNN ANCHOR: And that was the biggie. For more on that and other stocks this morning, Jennifer Westhoven's standing by at the Nasdaq marketsite. Hi, Jennifer.</s>JENNIFER WESTHOVEN, CNN CORRESPONDENT: Good morning. And what a surprise that that warning from Intel really isn't taking down the Nasdaq in the way that you might think it would, and in the way that warnings over the past few weeks really have battered the Nasdaq. This morning you have the futures trading higher. Now, of course, the details coming from Intel that the fourth- quarter revenue will be just a couple of percentage points above Q3 levels. It was supposed to be four to eight percent better. So it's a warning, it's looking like we're going to come in between $9 and $9.4 billion on Intel's top line -- I'm sorry, that was the expectation, between $9 and $9.4 billion. Now they're saying they expected coming at about $8.7 billion. Now they are saying that they think their gross margins will be intact, so that's a little bit of solace to the investment community. Plus, they're saying that their costs should be lower than expected. One other negative, they're talking about their interest in other income; that may selling something, you know, a little bit, you know, irrelevant, kind of an extra, too much going on here. But remember, in the past, Intel had convinced analysts to include this as part of their standard results. So when this goes down, it's a little bit of bad news for Intel. Still it's not really hurting the market overall, and there is some talk that, you know, we've had warnings from Motorola, from Apple and from Gateway. Motorola, of course, just recently. We also had those negative comments on Microsoft from Goldman, yet, still, yesterday, we only closed down slightly lower on the Nasdaq, and some analysts are saying that perhaps we are at least really starting to find the bottom. It has been so ugly lately with the Nasdaq trading at nearly half of its all-time high. So that's one of the small rays of hope people are looking at. The Internet sector, though, looking fairly ugly this morning. We have some bad news in areas. Priceline, for instance, says they will cut 48 jobs, which is 11 percent of their workforce. They might take charges in the fourth quarter for this, they're have a restructuring there. Look at a chart and this down 98 percent from its high, and they are also saying they are indefinitely postponing B2B insurance and cell phone services. Back to you.</s>HAFFENREFFER: All right, thank you, Jennifer. Jennifer Westhoven at the Nasdaq marketsite.