Intel (INTC) - Get Intel Corporation (INTC) Report was down 2.5% in preopen Instinet trading. The computer processor maker posted second-quarter earnings Tuesday of 12 cents a share, above analysts' estimates of 10 cents and down from 50 cents in the year-ago period. However the year-ago results include a $2.1 billion gain from the sale of investments. Sales fell to $6.3 billion, down 24% from $8.3 billion in the same period last year.
Intel forecast sales in the third quarter will be $6.2 billion to $6.8 billion, vs. $6.3 billion in the second quarter.
CFO Andy Bryant added, "As we look ahead to 2001, we're comfortable that the Intel architecture business has returned to seasonal patterns and will show more strength in the second half. Our other businesses remain soft."