Intel Corporation (NASDAQ:INTC) while Express, Inc. (NYSE:EXPR) reports Lauren Simonetti on Fox Business.
Intel Corporation (NASDAQ:INTC) raised its revenue outlook for the second quarter to $13.7 billion, plus or minus $300 million, up from its previous outlook of $12.5 billion to $13.5 billion.
The revised revenue guidance comes after the company reneged on its flat revenue growth forecast for the year and changed it to expecting “some” revenue growth for the year. Furthermore, according to Intel Corporation (NASDAQ:INTC), demands for computers in the business sector continues to rise.
Reports also note that Intel Corporation (NASDAQ:INTC) also revised the mid-point of its gross margin estimate range for the company’s April to June quarter upward by 1 point to 64 percent.
According to Simonetti, the company will report its second quarter results this July 15.
Meanwhile, Simonetti also discussed a possible acquisition of clothing retailer Express, Inc. (NYSE:EXPR). According to the Fox Business reporter, Sycamore Partners has reported a 9.9% stake in the company and expressed a full buyout of the company.
It was also noted that Express, Inc. (NYSE:EXPR) was taken private by Golden Gate Capital in 2007 until it was relisted three years later.
According to Simonetti, Sycamore Partners will take a month to do their due diligence. After this period, the company will put forward a final offer if they are still interested in acquiring Express, Inc. (NYSE:EXPR).
Shareholders in Intel Corporation (NASDAQ:INTC) Martin Whitman’s Third Avenue Management with a stake of about 3.26 million shares in the company that it reported by the end of the first quarter. This stake was valued at about $84.05 million. Another investor in the company is Daniel Bubis’ Tetrem Capital Management which reported by the end of March a position composed of about 2.69 million shares valued at about $69.46 million.
Express, Inc. (NYSE:EXPR) shareholders includes Clint Carlson’s Carlson Capital which reported about 3.64 million shares in the company, valued at about $57.79 million, by the end of March. Another investor is Joel Greenblatt’s Gotham Asset Management which, by the end of the first quarter of the year, had about 1.57 million shares in the company.