Intel's decision to stick with its previous outlook wasn't exactly good news, but, following several warnings from the chipmaker and a depressing report about declining PC sales, it's good enough for investors. The news sent stocks up in the overseas markets.
Intel stuck with previous revenue projections in its first-ever midquarter report, saying revenue, gross margin and expenses for the second quarter will be slightly below the midpoint of the range predicted by the company in April. At that time, Intel called for second-quarter revenue to range between $6.2 billion and $6.8 billion, with a gross margin of roughly 49 percent.
But there was some bad news to greet investors this morning. Juniper Networks lowered its forecast for the second quarter Friday, and announced plans to cut its work force by 8 to 9 percent. The maker of Internet backbone routers cited a "challenging" business environment for telecommunications service providers and carriers, who make up its customers.
Stocks to watch
Handspring slashed its revenue projections amid a price war with Palm. The handheld computer maker warned after the bell Thursday that its fourth-quarter sales will check in between $60 million and $65 million, roughly half the $121.3 million it told shareholders to expect back in early May.
3Com issued a sales warning and said it was exiting the DSL and cable businesses. The network equipment maker said it expects revenue of $450 million to $475 million for the fourth quarter ended June 1. Company executives previously expected revenue of $550 million to $600 million.
AT&T is changing its interactive TV plans and now wants less advanced features for its set-top boxes. The move affects Liberate Technologies and Microsoft, which provide software for the boxes.
NetZero and Juno, both of whom offer free Internet service, announced plans to merge Thursday. The combined company will be dubbed United Online, which will continue to offer free services under the NetZero brand and move its paid services under the Juno name.
At the Bell
The Dow Jones industrial average may open 13.6 points higher. The Standard & Poor's 500 index for June futures contracts was up 1.70 points to 1288.50 at 4:44 a.m. PDT in 24-hour electronic trading.
Reuters contributed to this report.