Movers: Intel, Time Warner, Alcoa, Monsanto, Satyam
Intel (INTC) sees lower-than-expected fourth quarter revenue of about $8.2 billion, down 20% sequentially, down 23% year over year. The chip maker cites further weakness in end demand and inventory reductions by customers in the global PC supply chain. Says preliminary estimate of fourth quarter gross margin is at the bottom of the previous expectation of 55%, plus or minus a couple of points.
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