Intel Lifts on Reaffirmed Outlook

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Intel was up 2%, the most active stock on the Nasdaq, after the company said late Thursday its third-quarter sales will be at the low end of its projections, but still within the range expected by analysts.

The leading PC chipmaker said businesses were performing in line with its internal forecasts.

In July, Intel forecast a wide range of third-quarter sales of $6.2 billion to $6.8 billion, a drop of as much as 29% from the year earlier.

The consensus estimate called for Intel to post earnings of 10 cents a share for the third-quarter, on revenue of $6.41 billion, according to Thomson Financial/First Call.

The

Semiconductor Index

(SOX)

was up 2.3%.