Business memo 12/09/02

Stereo One team wins awards for sound quality

The Stereo One "Pressure Team" from Cape Girardeau-based Stereo One Inc. won several awards at sound quality competition held in Kansas City recently. The team collected a fifth place, second place and a world championship title in sound quality competition at the event.

Holiday brings some relief to retailers

NEW YORK -- A bigger-than-expected buying spree over the Thanksgiving weekend brought some relief to the nation's major retailers but couldn't save them from recording mostly weak sales for the month.

As merchants released their sales figures Thursday, industry analysts remained cautious about whether consumers will continue their late November splurge on apparel and toys -- and in the process turn the holiday shopping season into a success.

Wal-Mart Inc., the world's largest retailer, reported just a small gain, although it met Wall Street expectations.

Intel Corp. boosts revenue forecasts

SAN JOSE, Calif. -- Chip-making giant Intel Corp. on Thursday boosted its revenue forecast for the fourth quarter, the result of greater-than-expected demand for computer microprocessors.

The company now expects sales of between $6.8 billion and $7 billion for the three months ending Dec. 28, up from the previous estimate of between $6.5 billion and $6.9 billion.

No estimate of earnings was released, though analysts expected a profit of 13 cents per share on sales of $6.7 billion, according to a survey by Thomson First Call.

-- From staff, wire reports