Intel Rises Even as It Chips Away at Prices

The stock was up 2% following a report of price-cut plans.
Publish date:

SAN FRANCISCO -- Cheaper chips appear to be in the cards for Intel (INTC) - Get Report.


reports Intel on April 11 will cut prices by 10% to 20% for most of its products to make room for newer and faster processors. Included in the price cuts will be the recently introduced Pentium III chips. An Intel spokesman said the company doesn't comment on price moves before they take effect, though Intel does share that information with customers ahead of time.

Intel was up 2 3/4, or 2%, at 130 1/4. Rival

Advanced Micro Devices

(AMD) - Get Report

was up 1/8 at 15 13/16. PC makers were little changed on the report.

In related news, the

Semiconductor Industry Association

reported that worldwide sales of semiconductors rose 3.3% from a year ago to $10.88 billion, leaving them slightly below January's sales of $11.1 billion. A 10.3% increase in Asia-Pacific sales contributed to the rise.

Ups and Ups


(RNWK) - Get Report

was one of the early gainers on the Nasdaq. The stock soared following last week's announcement that



would buy


. Gains today follow

Donaldson Lufkin & Jenrette's

picking up coverage with a buy rating and a 12-month target price of 250. RealNetworks was up 26 1/2, or 17%, at 181.

In the report, analyst Jamie Kiggen writes that the Yahoo! merger "should accelerate the adoption of streaming media generally, and open up the possibility for a more meaningful relationship between RealNetworks and Yahoo!, given the longstanding partnership RealNetworks has enjoyed with"

Both Yahoo and continue to rally as well. Yahoo, which yesterday gained 22%, was up 13 7/8, or 6%, at 233, while, a 14% gainer Monday, was up 14, or 9%, at 171.


TCI Music


is soaring on news that


(T) - Get Report

Liberty Media


has offered to sell its Internet and interactive television assets in exchange for TCI Music stock.


reports that the assets include equity investments in






Sportsline USA



. TCI Music was up 12 7/8, or 154%, at 21 1/4. Liberty Media was up 1 15/16, or 3.5%, at 57 13/16.

Valley Girl

Shares of

Silicon Valley Group


were off after the company forecast a 30% decline in second-quarter revenue from first-quarter levels. The semiconductor equipment company attributed the shortfall to weakness in sales of its lithography products. The stock was off 1 7/16, or 11%, at 12 1/8.