|
NEW YORK (AP) - Technology stocks were poised to lead Wall Street higher Wednesday after Intel Corp. issued a stronger-than-expected 2008 forecast, easing anxiety about corporate earnings and their impact on the economy.
The technology bellwether reported a first-quarter profit that matched analysts' expectations, along with sales that topped projections. Intel also issued a forecast that kept profit-margin predictions for 2008 intact, and said it expects to protect its earnings despite falling memory-chip prices and fears about a slowdown in tech spending.
This sent shares of the chipmaker up more than 8 percent in after-hours trading on Tuesday. It also motivated investors before Wednesday's open, sending Nasdaq 100 index futures up 19.25, or 1.07 percent, to 1,816.00.
|