NEW YORK ( TheStreet) -- Intel's ( INTC) strong earnings and guidance was a bright spot on a down day for the markets on Thursday. The Dow Jones Industrial Average fell 22.54, or 0.20%, to 11,731.90, while the S&P 500 dropped 2.20, or 0.17%, to 1,283.76. The Nasdaq lost 2.04, or 0.07%, to 2,735.29. Pete Najarian said on CNBC's "Fast Money" TV show that the Intel's earnings report was impressive, with gross margins over 67% and a strong outlook for 2011. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
Tim Seymour complained that Intel's stock hasn't performed well despite the earnings. He said the chipmaker has strategic long-term problems that it must resolve, including its failure in mobile and being shut out of the tablet movement. He said it needs to spend to get into the game. Guy Adami said Intel has always struggled with the $22 resistance level. Joe Terranova said the playing field has shifted in the chip sector to favor companies that are producing chips for tablets and smartphones. "You can have 80% of the chip market, but if you are in the wrong market, that's a problem." Najarian defended Intel, praising its purchase of McAfee and its Sandy Bridge platform. CNBC reporter Brian Schachtman spoke with Intel CFO Stacy Smith after the earnings report. Smith said he sees no near-term impact from Microsoft's ( MSFT) decision to shift to another chipmarker for its Windows program. Smith also said tablet sales are not having an impact on the PC market.