Blue-Chip Shares Edge Down; GM Falls 1%, but Intel Advances
Dow Jones Newswires</br></br>NEW YORK -- Stocks pulled back a bit despite a strong profit report from Intel, a component of the Dow Jones Industrial Average and Nasdaq Composite Index.</br></br>The Dow Jones Industrial Average fell 9.93 points, or 0.1%, to 9803.05; the Nasdaq Composite Index shed 4.09, or 0.21%, to 1939.1; and the Standard & Poor's 500-stock index dropped 2.72, or 0.26%, to 1046.76.</br></br>Shares of tech bellwether Intel rose 68 cents, or 2.2%, to $31.76 following the company's report after the close of trading Tuesday that third-quarter profit more than doubled on 20% revenue growth, which topped the company's own raised expectations. With yesterday's gain, Intel's stock price is up 100% this year.</br></br>Other semiconductor-related stocks did well, including Novellus Systems, advancing 1.12, or 3%, to 38.54 on the Nasdaq Stock Market after the chip-equipment maker reported earnings of four cents a share before items, beating Wall Street's prediction that the company would break even for the period.