Skip to main content

Intel Earnings: Morning Tech Bytes

More insight on Intel's third quarter results kick off the day's important tech news.
  • Author:
  • Publish date:

NEW YORK (TheStreet) -- Chip giant Intel (INTC) - Get Intel Corporation Report said Tuesday it is taking a breather on its recent buying spree, while Twitter's founder has big plans to boost the company's user base in this morning's roundup of the top tech stories.

Intel reported its third quarter earnings

after market close Monday, announcing EPS of 52 cents on revenue of $11.1 billion, above estimates of 50 cents earnings per share on sales of $11 billion.

Intel CEO Paul Otellini said the company believes that PC unit shipments are on track

for year-over-year growth of 18% for 2010, and CFO Stacy Smith said that Intel isn't contemplating any big acquisitions in the near future.

Intel also gave fourth-quarter outlook of $11.4 billion. Analysts were expecting EPS of 50 cents on sales of about $11.3 billion.

Amazon

(AMZN) - Get Amazon.com, Inc. Report

announced Monday that it will introduce a new line of short form books in its Kindle Store. Called Kindle Shorts, the category will be comprised of "books that are twice the length of a

New Yorker

feature or as much as a few chapters of a typical book," according to the company. Kindle Singles will be priced less than traditional books. Amazon jumped 2.25% Tuesday to close at $156.48.

Twitter has pledged to increase its membership base to 1 billion users, site co-founder Evan Williams told a crowd at a San Francisco conference Monday. Williams did not provide a timeframe for when the world's third largest social network would reach this milestone. Twitter currently has 165 million users, according to the company, compared to

Facebook's

500 million users.

Sony

>

TheStreet Recommends

(SNE) - Get Sony Corp. Report

announced it will begin selling its

Google

undefined

TV sets on Saturday. The product, which follows last week's introduction of the set-top box from

Logitech

(LOGI) - Get Logitech International S.A. Report

Revue, allows viewers to surf the web using the Google Chrome browser and is built on the Android operating system. It is set to retail from $600 to $1,400.

Sony fell 1% yesterday to close at $31.89.

In pre-market trading Wednesday and ahead of its quarterly earnings report Monday, Oct. 18,

Apple

(AAPL) - Get Apple Inc. Report

shares passed the $300 mark. Currently the Silicon Valley giant is trading up $2.11 at $300.65 and will likely be closely watched by investors when the morning session opens.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to

http://twitter.com/TheStreet_Tech

.

>To submit a news tip, send an email to:

tips@thestreet.com

.