Intel's a miss, but a nonevent miss in my book. I mean, maybe some screaming yahoo reporter will try to tell you that this was a big miss, but it is a real yawner I am afraid.
We don't know much more than that right now, except that the company is going to be very, very upbeat.
Amazingly, there are people in the badlands who can't resist pulling the trigger before they find out what is going on. You could have bought a block of stock at 63 and change in Instinet after the number was reported, but before the guidance was delivered.
Once the positive guidance came out though, someone "swept the street," taking all offerings to 64, and then other buyers came in. It is trading up one-half as I write.
Hope this helps.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Intel. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at