Intel Holds Up

Updated from April 17

Intel(INTC) reported flat first-quarter profit and revenue, as competition and tepid demand kept sales in check.

But the big chipmaker bumped up its profit margin outlook for the full year, offering the first modest piece of evidence that the turnaround plan undertaken by CEO Paul Otellini last year is starting to bear fruit.

"We are planning for growth in the second half of the year," Otellini told analysts in a post-earnings conference call Tuesday. ...