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Stocks end week with gains; GE rises, Intel falls

By MATTHEW CRAFT Published: January 19, 2013
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Intel, the world's biggest chipmaker, said late Thursday that fourth-quarter net income fell 27 percent. A growing preference for smartphones and tablets, instead of personal computers and laptops powered by Intel chips, have made investors wary of the company's stock. It lost $1.43 to $21.25.

Norwegian Cruise Line soared 30 percent in its first day of trading, the top performance of the three companies making their public debut on Friday. Five companies raised a total of $1.8 billion through initial public offerings this week, making it the best week for IPOs since early October, according to the data provider Ipreo.

American Express fell 96 cents to $59.78. Hefty charges tied to the credit card issuer's plan to cut jobs and reorganize some business lines hurt results, and revenue fell short of estimates.

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle.


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