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Intel's Pounding Holds Down the Dow

Dan Carroll
January 18, 2013

Earnings season is entering full swing, and a key miss is weighing on the Dow Jones Industrial Average (INDEX: ^DJI) today. As of 2:15 p.m. EST, the Dow is up just eight points, having been flat all day. Dow components are fairly mixed today, but one major laggard from the tech sector one strong conglomerate are standing out.

No love for Intel
Semiconductor leader Intel (NASDAQ: INTC) reported earnings yesterday, and despite results that topped downbeat Wall Street expectations, the company's outlook has investors scrambling. Shares are currently down nearly 7%, erasing most of the past month's 8% gains in a single stroke. Analysts and investors alike turned sour on the stock after Intel said it was preparing for a third straight quarter of falling revenue. Furthermore, the company's plan to spend a whopping $13 billion on capital expenditures did not endear many to Intel's future, particularly with the PC market's decline already weighing on the company's prospects.

Fortunately, earnings season