Intel Forms New Group

Intel Corp., the world’s largest maker of chips that run personal computers, said it formed a new business group to focus on the fast-growing market for chips that run mobile phones. Employees from DSP Communications Inc., which Intel acquired last month, will report to the new Wireless Communications and Computing Group. The new wireless group will be headed by Ron Smith, 52. Smith ran the company’s unit that handled flash memory and will make up the core of the new group. Intel also said it’s giving Chief Financial Officer Andy Bryant, 49, new duties, including running the company’s Internet sales and procurement of supplies. Intel shares fell $1 to close at $81.06 on Nasdaq.

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Red Hat Posts Loss: Red Hat Inc., a developer of the free Linux computer operating system that competes with Microsoft Corp.’s Windows, posted a loss of $3.6 million, or 5 cents a share, for its fiscal third quarter, contrasted with net income of $103,937, or break-even, a year ago. Revenue rose 63% to $5.43 million, but expenses climbed nearly fourfold to $7.3 million. Red Hat also said it will split its shares 2 for 1. Red Hat closed up $15.06 at $267.94 on Nasdaq.

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Micron Earnings Grow: Micron Electronics Inc.’s fiscal first-quarter earnings grew 25% to $14.6 million, or 15 cents a share, a penny higher than expectations, but revenue fell 13% to $353 million. The direct seller of personal computers is majority-owned by Micron Technology Inc.