Jobs Report Lifts Stocks

Good news for Intel (INTC) today. The Federal Trade Commission said it has reached a deal with Intel regarding an anti-trust case. The problem was that Intel wasn’t charging people enough for its chips. I’m not making that up.
Like many anti-trust cases, the complaint wasn’t brought by a customer but by one of Intel’s competitors, Advanced Micro Devices (AMD). The two companies settled a civil trial last year when Intel had to fork over $1.25 billion.
The good news is that this time Intel won’t pay a dime in damages. Instead, the company will have to alter the way it sells some of its products.
The market is in a good mood this morning thanks to an optimistic jobs report from ADP. On Friday, we’ll get the official employment report from the government but the private payroll company likes to provide its own sneak-peak. According to ADP, payrolls grew by 42,000 last month and the figure for June was revised higher to a gain of 19,000. I’m not very impressed by those number but at least they’re positive!

Posted by on August 4th, 2010 at 9:55 am


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