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Thursday, October 21, 2010

Intel Results Come In Above Expectations - Forbes

Intel posted earnings after the bell on Tuesday, posting revenue and operating income of $11.1 billion and $4.1 billion respectively. The chipmaker beat analysts' profit expectations by two cents, reporting earnings per share of $0.52.

Paul Otelli, president and CEO of Intel ( INTC - news - people ), explained that Q3 results were "driven by solid demand from corporate customers, sales of our leadership products and continued growth in emerging markets." The $11.1 billion in revenue represent an 18% jump from 2009's Q3 results topping analysts' forecasts, while the $0.52 EPS represents an increase of 58% over 2009's Q3 EPS of $0.33.

Net profit stood at $3 billion, up 59.2% from $1.9 billion. Interestingly, the Asia-Pacific region generated 58% of Intel's revenue, or $6.4 billion, compared to the 20% or 2.2 billion generated by the Americas region.

"Looking forward, we continue to see healthy worldwide demand for computing products of all types and are particularly excited about our next generation processor, codenamed Sandy Bridge," explained Otelli, who also praised the new Atom processor, Intel's move into netbooks, tablets, and even the new Google ( GOOG - news - people ) TV.

The chipmaker released its Q4 forecast, forecasting revenues of about $11.4 billion and spending on research and development and M&A for approximately $3.2 billion.

As the largest chipmaker, Intel is sometimes taken to be representative of the computer and technology industries. With the increasing relevance of mobile and tablet devices, Intel is seen as lagging behind competitors such as Qualcomm ( QCOM - news - people ) and ARM Holdings ( ARMH - news - people ) how have come to be protagonists in this new market for chips.

Intel's closing price on Tuesday was $19.77, and it gained %0.20 or 1.01% to 19.97 in after hours trading.


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Kirk, Giannoulias trade ethics shots on 'Meet the Press' - Chicago Tribune

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October 10, 2010Kirk and Giannoulias trade ethics shots on 'Meet the Press'Share|

Posted by Oscar Avila at 9:50 a.m.

U.S. Senate candidates Mark Kirk and Alexi Giannoulias traded sharp attacks on each other’s character and credibility this morning in a wide-ranging debate televised on NBC’s “Meet the Press.”

The character question remains front-and-center in their bid to fill President Obama’s old Senate seat as polls show voters hold deep doubts after scathing reports of Democrat Giannoulias’ tenure at the failed Broadway Bank and of Republican  Kirk embellishing his record in the Navy Reserve.

The debate aired live in parts of the country but airs locally at 11 a.m. after NBC’s coverage of the Chicago Marathon.

Moderator David Gregory pressed Giannoulias, Illinois' state treasurer, on whether he knew his family’s bank lent money to convicted criminals with ties to organized crime. Giannoulias, a senior loan officer at the time, did not claim total ignorance of their “colorful pasts” but said “I didn’t know the extent of their activity.”

Kirk did not disavow campaign ads equating Giannoulias with television mobster Tony Soprano and said the candidate should have known better because the criminal convictions had been widely reported in local newspapers.

“You don’t have to pull their rap sheet,” said Kirk, a five-term congressman.

Giannoulias, who has portrayed Kirk as a Washington, D.C. insider, said Kirk didn't know what it's like to work in the private sector.  "Again... the congressman has never worked in the private sector. Doesn't know what it takes, what a bank does when they look at whether or not to approve or deny a loan so he pulls some names and tries to make a political attack," Giannoulias said. " People aren't buying it."

Gregory, meanwhile, pressed Kirk, an intelligence officer in the Navy Reserve, as to why he embellished parts of his military record. Gregory  read off a string of examples, including that Kirk came under enemy fire in Iraq, that he ran the Pentagon war room, served in the Gulf War, and that he was named the Navy's intelligence officer of the year.

Kirk did not fully explain how the exaggerations occurred but said, “I am completely accountable for this.”

Giannoulias tried to use the misstatements to cast broader doubts on Kirk’s candidacy. As Kirk rattled off examples of how he bucked Republican leadership, including supporting stem-cell research, Giannoulias wasn’t having it.

“The truth is that the only thing he’s been independent of in this race is the truth,” Giannoulias said.

Likewise, Giannoulias implied that Kirk’s misstatements on his military record should lead voters to question his other claims, including that he would be a “fiscal hawk” and take on the ballooning budget deficit.

“The congressman has told some real whoppers during this campaign, but that might be the biggest one of all,” Giannoulias said. “Congressman, saying you’re a fiscal hawk doesn’t necessarily make it true.”

Much of the policy debate centered on whether Obama’s economic policies have worked.

Kirk said the health care and financial reform bills had the net effect of being tax increases. Kirk held up a chart – a la former presidential candidate Ross Perot – to show that the administration’s economic policies, including the stimulus package, have only swelled the debt without truly creating jobs.

“We recognize that the stimulus has largely failed,” Kirk said.

"The key danger," Kirk said, "is will our policies increase the chance of a double-dip recession?"

While he did not agree with all the details, Giannoulias said the stimulus package helped the U.S. avoid a “second Great Depression.”

“I think (Obama) has done everything he can to turn this economy around,” Giannoulias said.

 

Posted at 09:51:21 AMin 2010 Illinois election, 2010 Illinois U.S. Senate campaign

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Microsoft to Unveil Its Smartphone Lineup - Wall Street Journal

Microsoft Calling: Microsoft will formally unveil Monday a lineup of smartphones using the revamped version of its mobile operating system, Windows 7. The phones will be available through AT&T and T-Mobile USA.

[SJ-AE532_10CAL_]

Kid Channel: Hasbro is set to launch a children's cable network today, as it tries to expand from a toy maker to an entertainment company.

Earnings Roundup: J.P. Morgan Chase, General Electric, Google, Mattel and Intel are among those reporting.

Columbus Day: The stock market and most commodity markets are open Monday, though bond markets and government offices are closed.

Foreclosures Halted: Bank of America said it's halting all foreclosure sales, the first bank to do so amid political pressure to examine documentation problems. BofA, J.P. Morgan Chase, Ally Financial and others already have postoned foreclosures in 23 states.

Obama Veto: President Obama plans to veto a bill whose opponents say would make it harder for homeowners to stop foreclosures.

Still Jobless: The unemployment rate stood unchanged at 9.6% in September, as small gains in the private sector failed to offset big cuts in government workers.

Home Sales Up: Existing-home sales rose 4.3% in September from August.

False Charges: Verizon Wireless said it will issue refunds to 15 million customers who were incorrectly billed for data services.

Settlement: Wells Fargo has agreed to pay $24 million and reduce the amount owed on certain loans to settle an investigation into the marketing of risky mortgages.

iPhone Expansion: Apple announced it's creating a version of the iPhone to be sold through Verizon Wireless starting early next year, ending an exclusive deal with AT&T.

—Wall Street Journal Sunday writers regularly contribute to the Journal's weekday "Your Money Matters" personal-finance podcast. Listen at WSJ.com/Podcasts

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Google tests driverless car - Telegraph.co.uk

The experiment, which was carried out in San Francisco, was almost incident-free. The sole mishap was when the driverless car was bumped from behind by another vehicle at a traffic light.

It is the latest development in trying to design accidents out of cars. Already many have sophisticated assisted parking systems and an array of other technology aimed at preventing collisions.

However the Google car – in reality a kitted out Toyota Prius – went a step further.

Although a driver was present to take control should the need arise, the car was left to drive itself with the help of video cameras mounted on the roof, radar sensors and a laser finder capable of detecting other traffic.

The routes were agreed in advance with the police and were first mapped out by by a driver.

According to Sebastian Thrun, a software engineer behind the project, a number of cars have taken part in the trials which have covered 140,000 miles.

The cars have successfully negotiated San Francisco's Golden Gate Bridge as well as other parts of the city.

According to the World Health Organisation 1.2 million people are killed on the roads across the globe every year and the trials are intended to promote safety by removing some of the human error involved in driving.

"We believe our technology has the potential to cut that number, perhaps by as much as half," Mr Thrun wrote on his blog.


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Bronx Gang Claim Gay Recruit Torture Was Forced by Leader - ABC News

Members of a Bronx gang who allegedly beat and tortured a new recruit they thought was gay along with two other men in separate attacks early this week are claiming that the gang's leader threatened them into participating in the assaults.

Police told the New York Daily News that several members of the gang, known as the Latin King Goonies, claimed that the gang's leader, Ildefonso (Cheto) Mendez, orchestrated the assault and told them that they would be slashed and beaten as well if they did not participate.

Eight members of the gang are being held on charges of burglary, robbery, assault, menacing, unlawful imprisonment and criminal sex acts, which are being added as a hate crime, police said. One suspect, Rudy Vargas-Perez, 22, is also being sought in the incident.

The alleged attacks came amid heightened attention nationwide to anti-gay bullying after a string of suicides last month were attributed to harassment they had suffered.

New York Police Commissioner Ray Kelly said the first of the alleged assaults occurred at about 3:30 a.m. Sunday in the Morris Heights section of the Bronx.

In the first incident, gang members allegedly forced a 17-year-old potential recruit for the street gang to an empty apartment in the Bronx that they used for parties and sex, Kelly said.

"He was thrown into a wall, made to strip naked, hit in the head with a beer can, cut with a box cutter and sodomized with the wooden handle of a plunger," the commissioner said.

The alleged attackers, apparently angry he was gay, yelled anti-gay insults and questioned him about his contact with a 30-year-old man, according to police.

The teen was eventually released by the attackers and instructed not to tell anyone, police said. He then walked to a hospital where he was treated, but he reported that his injuries were from a robbery, according to police.

The gang members then attacked another 17-year-old also thought to have had a relationship with the 30-year-old and then the older man as well, police said. They allegedly lured both to the same apartment with a story that there was a party there.

The second teen was allegedly assaulted at about 8:30 p.m. on Sunday, according to police.

When the 30-year-old arrived about an hour later, the nine gang members allegedly stripped him to his underwear and tied him to a chair opposite the other teen, who they forced to burn the man with cigarettes, police said.


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