I was all ready to write about all the shooting stars made today but Intel has launched the market (Nasdaq) into orbit and obliterated the shooting stars. This will finally get the SOX moving away from its 200-day moving average. It may be a wild one tomorrow if the jobs report is decent. (Duru nailed this in his INTC note last night)

16:26 INTC guidance lifts futures, non-chip stocks: GOOG +1.10, EBAY +0.40, YHOO +0.10… INTC now up 7.7%

16:20 Companies moving on INTC news: NVLS +3.1%, AMAT +3.1%, KLAC +2.6%, TXN +1.7%, AMD +1.2%, DELL +0.1%

16:20 INTC Intel raises Q4 revenue range

Co announces that it expects Q4 sales of $9.3-$9.5 bln, vs previous guidance of $8.6-$9.2 bln (consensus $8.98 bln), driven by strong worldwide demand for the co’s Intel Architecture products. The Q4 gross margin is expected to be between 55-57%, as compared to the previous expectation of 56%, plus or minus a couple of points, and is expected to be in the upper half of the revised range. Co continues to make progress on inventory reduction and expects a net inventory decrease of several hundred million dollars by the end of the qtr. All other expectations are unchanged. The American Jobs Creation Act of 2004 was signed into law in October and allows companies to repatriate cash into the United States at a special, temporary effective tax rate of 5.25%. Under the Act, up to approx $6 bln of Intel earnings from non-U.S. subsidiaries may be eligible for repatriation at the temporary rate. The co is reviewing the matter and does not yet have formal plans regarding the repatriation.
16:18 INTC Intel surges to $24 in after hours, up 5.7% after co raises guidance, says making progress in reducing inventories (22.71 -0.39) — Update –

16:17 INTC Intel says making progress on inventory reduction, sees net inventory decresae of several hundred million– Update –

16:16 INTC prelim sees Q4 gross margin of 55-57%, previous guidance was 56% plus/minus a couple of points

16:15 INTC sees Q4 revs of $9.3-$9.5 bln, vs $8.98 bln consensus