JMP expects Intel to "tighten revenue range" -10yr pressured
By Michael Baron
NEW YORK (CBS.MW) -- Shares of Intel (INTC) were up 1.3 percent to $21.92 in midday action. JMP Securities issued a preview of the chip giant's mid-quarter update due Sept. 2, saying it expects Intel to tighten its revenue outlook to a range of $8.6 billion to $9 billion from its current forecast of $8.6 billion to $9.2 billion. The firm added that it anticipates Intel will be conservative in its comments during the update due to a slow start to the back-to-school season in July/August, increased competition from Advanced Micro Devices, and a more competitive flash memory pricing environment. JMP left its "market outperform" rating on Intel intact and said it believes the shares will trade in a tight range of $22 to $24 in the near-term without strong upside catalysts.
Technical Trading Selling Treasuries : The market has been churning lower throughout the session, pushed by technical inputs and a slowing of the oil price run-up. The technicians are seeing a "toppish" environment, with the interest rate instruments poised for a size correction.. The CFTC's Commitments of Traders report showed players aggressively trimming the long positions, and has left the market net-short the 10-year futures, expecting they will decline, while expectations on gold futures gaining were increased. The Euro Zone market has remained underwater as has the Japanese 10-year and trade has been played out on very light volume. The buck remained bid against the euro, as the region is not expected to be capable of keeping pace with US growth. The spotty, technical trade will likely define the day as players look out to data and Fed speakers due later in the week. The 10-year is currently -12/32nds yielding 4.281%.
AI
Market Data 
Markets 
