US STOCKS-Wall St slips after disappointing Intel results

Fri Jan 18, 2013 1:01pm EST
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* Weak outlook weighs on Intel, down 6 pct

* Morgan Stanley up more than 5 pct after results

* U.S. Republicans weigh short-term debt limit increase

* Indexes down: Dow 0.1 pct; S&P 0.2 pct; Nasdaq 0.4 pct

By Angela Moon

NEW YORK, Jan 18 (Reuters) - U.S. stocks edged lower on Friday from a five-year high for the S&P 500 as a weak outlook from tech heavyweight Intel offset a better-than-expected quarterly profit at Morgan Stanley.

But the S&P 500 was still on track to end higher for a third consecutive week.

Shares of Intel Corp slumped nearly 7 percent to $21.11 a day after it forecast quarterly revenue below analysts' estimates and announced plans for increased capital spending amid slow demand for personal computers.

"Intel earnings weren't that bad, although their revenue was weak. It sparks fears about not only the company but about the whole PC sector, and that's pressuring the market today," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.   Continued...