NEW YORK (TheStreet) -- Shares of Intel Corp. (INTC) are down -0.47% to $27.80 in pre-market trade after losing its challenge against a record $1.44 billion EU fine handed down five years ago, as Europe's second highest court said regulators did not act too harshly, Reuters reports.
The EC in its 2009 decision said Intel tried to thwart rival Advanced Micro Devices (AMD) by giving rebates to PC makers Dell (DELL), Hewlett-Packard Co. (HPQ), NEC and Lenovo (LNVGY) for buying most of their computer chips from Intel, Reuters noted.
TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTEL CORP (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."