Dollars and Jens
Wednesday, January 14, 2004
 
JPM to buy Bank One; Intel reports record quarter
Business headlines:
Shares of financial giant J.P. Morgan Chase & Co. also fell about 4 percent after it said it had agreed to buy rival Bank One Corp. for about $60 billion. Bank One shares soared 10 percent.

Intel, the world's biggest microchip maker, fell after it reported a sharp rise in quarterly revenue and a higher profit, but forecast a drop in revenues in the first quarter. Its shares fell to $32.59 on the Instinet electronic brokerage system from $33.39 at its close in regular trade on Nasdaq.
I imagine somebody has an idea of what expectations are for INTC; it could well be priced for higher expectations than are achievable. (That's hedged almost to the point of meaninglessness, isn't it.)

- posted by dWj @ 6:14 PM

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