EARNINGS

Intel, Microsoft Profits Up: Intel Corp. said first-quarter net income rose 12.6% as strong demand from the computer industry made up for a continued slide in profit margins. The semiconductor manufacturer said net income rose to $617 million, or $1.40 a share, from $548 million, or $1.24, in the year-earlier period. Microsoft Corp. said profit from operations rose 38% in the third fiscal quarter, beating Wall Street’s highest earnings estimate. Net income was $256 million, or 84 cents a share, compared to year-ago earnings of $243 million, or 80 cents. The most recent quarter includes a charge of $120 million, or 26 cents a share, for damages to be paid to Stac Electronics stemming from a patent infringement lawsuit. Excluding the charge, Microsoft said net income would have been $336 million, or $1.11 a share.