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A Higher-than-expected earnings for the fourth quarter and credited strong performances by powerful new versions of its Pentium chips. Intel reported net income of $1.7 billion, which was down from $1.9 billion. Revenue rose to a record $6.5 billion from $6.4 billion. The Santa Clara, Calif.-based computer chip maker said it expected its revenue for the first quarter of 1998 to be about flat with the last quarter’s $6.5 billion.

Apple Computer said Wednesday it returned to profitability in the latest quarter, buoyed by the introduction of its Power Macintosh G3 computers in what it called its most successful product launch ever. Apple, which lost about $1.8 billion in its last two full fiscal years, reported a profit of $47 million, or 37 cents a share, for its fiscal first quarter ended Dec. 26. That compared with a loss of $120 million, or 96 cents a share in last year’s fiscal first quarter. Revenues, however, fell to $1.6 billion from $2.1 billion.

A U.S. federal judge Wednesday adjourned a hearing into whether Microsoft violated his order regarding its Windows 95 licensing practices, saying he would hear final arguments Jan. 22. U.S. District Judge Thomas Penfield Jackson Continue reading Stock Updates