Stock Market News: Dell Announced Plans To Enter Smartphone Business; Intel Settles Lawsuit With Advanced Micro Devices; Disney Reported Earnings

• Intel (INTC) agreed to pay Advanced Micro Devices (AMD) $1.25 billion to settle a private antitrust lawsuit
• Dell (DELL) announced plans to enter the smartphone business, in partnership with China Mobile and Claro. Its first product, the Mini 3, will be designed around Google’s (GOOG) Android operating system
• Disney (DIS) reported fiscal fourth quarter results after yesterday’s close, with earnings ex-items coming in 5 cents a share better-than-expected at 46 cents. Revenues of $9.87 billion came in well ahead of Zacks estimates of $9.18 billion
• McDonald’s (MCD) addressed its plans to open 1,000 additional restaurants next year, and provide an image makeover to the rest. The firm set targets for average annual sales growth of 3-5% and average annual operating earnings growth of 6-7%
• Abercrombie and Fitch (ANF) reported third quarter non-GAAP earnings of 30 cents a share, well above Zacks estimates of 20 cents, as revenues of $765.4 million topped Zacks estimates of $763 million
• The rue21 IPO of 6,765,437 common shares was priced at $19.00 per share. The stock will trade on the NASDAQ with the symbol RUE
• Goldman Sachs (GS) upgraded Goodyear Tire (GT) shares to “buy”

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