Intel Corp (INTC)

[Sarmad]

Just when I thought INTC was going to stay above $16 for a while. (At least long enough for me to sell my way-over-stuffed full position!).

http://finance.yahoo.com/news/Intel-lawyer-uphill-battle-to-apf-15305522.html?.v=2

SANTA CLARA, Calif. (AP) -- Intel Corp.'s top lawyer says that fighting the European Union's record $1.45 billion antitrust fine will be an "uphill battle."

Bruce Sewell, general counsel for the world's No. 1 computer microprocessor maker, said at the company's annual shareholder meeting Wednesday that Intel expects European courts to show deference to the EU's decision.

Even so, he said Intel plans to appeal last week's ruling. It punishes Intel for allegedly selling some of its chips below the cost of making them, and paying retailers and computer makers not to use chips from rival Advanced Micro Devices Inc. Intel has denied the charges.

Sewell said: "We have our work cut out for us, but I'm hopeful we can overturn this."