Intel Sees 4Q Revenue Beating Estimates

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Intel

(INTC) - Get Report

said it expects fourth-quarter revenue to come in higher than previously estimated because of strong demand for PCs. The chip maker said it sees fourth-quarter revenue exceeding the last quarter's $6.7 billion by 8% to 10%. The 32-analyst

First Call

outlook calls for quarter earnings of 95 cents a share vs. the year-ago 98 cents. Intel shares were up 1 3/16 from a close of 97 9/16 in after-hours trading.

Elsewhere in high technology,

Microsoft

(MSFT) - Get Report

and

Qualcomm

(QCOM) - Get Report

unveiled a new venture to provide secure Internet service on wireless networks known as

WirelessKnowledge

. The CEO of WirelessKnowledge hopes the venture will break off and have its own IPO in the first quarter of 2000.

Fox Entertainment

(FOX:NYSE), a unit of

Rupert Murdoch

-controlled

News Corp.

(NWS) - Get Report

reported third-quarter earnings of 48 cents a share, notably beating the 16-analyst forecast by 13 cents and up from the year-earlier 20 cents.

Cedar Fair

(FUN) - Get Report

reported third-quarter earnings of $1.79 a share, a penny below the five-analyst prediction and behind the year-ago $1.81.

Gensia

(GNSA)

reported a third-quarter loss of 4 cents a share, missing the single-analyst call for a profit of a penny but beating the year-ago loss of 13 cents.

Morrow Snowboards

(MRRW)

posted third-quarter earnings of 14 cents a share, well below the 47 cents called for by a single analyst but above the year-ago 8 cents.

Motorola

(MOT)

said that because of new accounting rules from the

Securities and Exchange Commission

, it has reduced its previously recorded third-quarter acquisition charge related to

Starfish Software

to $18 million from $117 million. Motorola said quarter net earnings were 4 cents a share on the revised charges compared with the previously reported loss of 7 cents a share. Excluding charges, third-quarter earnings remain unchanged at 7 cents a share.

Omnipoint

(OMPT)

posted a third-quarter loss of $2.98, including expenses related to customer acquisition costs for its Urban Wireless subscriber base and in costs related to temporary outsourcing to handle call volumes while the new second customer care center was coming on line. The company did not provide a per-share operating figure. The 15-analyst forecast called for an operating loss of $2.93 vs. the year-ago loss of $1.57. In today's session, the stock plunged 27.6% after the

Justice Department

alleged the wireless communications firm rigged bids in spectrum auctions held by the

Federal Communications Commission

in 1996 and 1997. Omnipoint was up at 9 from a close of 7 13/16 in after-hours trading.

Pacific Sunwear

(PSUN)

announced third-quarter earnings of 38 cents a share, 1 cent higher than the nine-analyst view and above the year-ago 27 cents.

Vintage Petroleum

(VPI)

recorded a third-quarter loss of 19 cents a share, 2 cents wider than the 15-analyst outlook and below the year-ago profit of 29 cents.

Mergers, acquisitions and joint ventures

Dell

(DELL) - Get Report

was up at 71 1/2 from a close of 70 5/16 in after-hours trading following an earlier announcement that it will sell

Kodak

(EK)

digital cameras in a pre-holiday marketing agreement.

Players International

(PLAY) - Get Report

said it would consider "any reasonable business combination" after

Hollywood Park

(HPK)

offered to buy the casino company for $350 million in cash and assumed debt earlier.

Offerings and stock actions

Airborne Freight

(ABF)

set a repurchase program of 4 million shares.

E.W. Scripps

(SSP) - Get Report

increased its buyback program to 6 million shares from 4 million. The company also said its October revenue jumped to $135 million from $119 million a year ago.

Miscellany

The

World Bank

approved more than $3 billion in emergency loans for Argentina to help the country defend itself against global financial instability.

EchoStar Communications

(DISH) - Get Report

said its

Dish Network

added 100,000 customers in October compared with 75,000 subscribers added a year ago.

Grey Wolf

(GW)

appointed Chief Executive Thomas Richards to the additional post of chairman.

Two long-serving directors on

Input/Output's

(IO) - Get Report

board of directors have retired, the company announced late Tuesday. The company said in a press release after the market closed that Charles Selecman, a former chairman, and Shelby Carter, a director since February 1987, have left.

The short press release gave no reason for the departure of the two board members, considered its most powerful members. But the announcement comes one day after an IO board meeting, according to an analyst in Houston who asked not to be named. IO meets 8 times yearly, according its SEC filings. Any determination of the reason behind the resignations would be pure speculation at this point, this analyst says. The company did not return a phone call seeking comment.

The announcement follows a year in which IO has been roiled by

management changes, the most recent being the defection of its chief financial officer. Today's announcement may further heighten investor uncertainty about the company's direction. IO lost 5/8, or 6.3%, to 9 3/8.

Selecman served as chairman between December 1986 and January 1998. He held the additional posts of president and chief executive between 1989 and 1993 and again from May through December 1997. At that time IO hired its current chairman and chief executive, Zeke Zeringue. His term as director was set to expire in 1999. Carter is a founder and director of

Bay Networks

, now a unit of

Northern Telecom

(NT)

. His term was set to expire in 2000.

--

Mavis Scanlon