Though Drexel Hamilton has upgraded Intel (INTC -1%) to Buy, shares are lower following nearly...

|About: Intel Corporation (INTC)|By:, SA News Editor

Though Drexel Hamilton has upgraded Intel (INTC -1%) to Buy, shares are lower following nearly in-line Q1 results and Q2 guidance that followed months of estimate cuts. RBC (Sector Perform) calls the results "better than feared," and is happy with Intel's capex forecast cut. SA contributor Bill Maurer points out Intel's Q1 buyback activity ($533M) represented a major drop from the ~$1B in buybacks seen in each of the prior 3 quarters, and also notes Intel's short interest has surged to 239M shares from 89M over the last year. (more) (CC transcript)