Intel Climbs 2.7% After Warning - TheStreet

Intel (INTC) - Get Report was up 2.7% in preopen Island trading. After the close Thursday, the chip giant warned that fourth-quarter revenue would be flat with the third quarter, "give or take a couple of percentage points." Previously, it estimated a 4% to 8% increase. Intel blamed slowing PC demand. ABN Amro downgraded it to hold from add, and Credit Suisse First Boston lowered its fourth-quarter and 2001 earnings estimates.

Other semiconductor stocks were also higher in the preopen.

Applied Materials

(AMAT) - Get Report

was up 5.6%.

Applied Micro Circuits

was up 5.3%.