AMD's Red-Sky Morning

Updated from 7:54 a.m. EDT

How much money did Advanced Micro Devices(AMD Quote) lose?

That will be an important, but hardly the only unpleasant question facing the company as it reports its first-quarter results after Thursday's market close. Shares were up 13 cents at $14.04 ahead of the numbers.

Stung by intense competition with Intel(INTC Quote), AMD's management will have to explain a range of troubling trends in its business, including the company's sudden lack of profitability, a dizzying mountain of debt and a potential need for more funding. ...