Intel Slides in Preopen Action Despite Beating Lowered Estimates - TheStreet

Intel

(INTC) - Get Report

was down 3.9% in preopen

Island

trading. After the close Tuesday, the company

posted third-quarter earnings of 41 cents per share, ahead of the Street's diminished estimate of 38 cents. The estimate had been 41 cents until the company's recent earnings warning. Intel earned 28 cents per share in the year-ago quarter. The chipmaking giant said fourth-quarter revenue would rise 4% to 8% compared to the third quarter.

ABN Amro

upgraded it to outperform from hold.