As previously reported, Canaccord upgraded Intel to Buy from Hold after its pullback yesterday, citing drastically improved fundamentals, including sustained foundry advantages and strong secular momentum. However, Canaccord lowered its price target to $38 from $40 on Intel shares.
Pre-earnings options volume in Intel is normal with calls leading puts 2:1. Implied volatility suggests the market is anticipating a move near 5.6%, or $1.96, after results are released. Median move over the past eight quarters is 7.8%.
Intel (INTC) is scheduled to report results of its fiscal first quarter after the market close on April 25, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here