Stock Watch: Intel Gains After Announcing New Chips

Chip titan Intel Corp. (Nasdaq: INTC) (Nasdaq: INTC) shot up 1 1/2 to 72 1/16 Monday after saying it would release details this week about its new chips for wireless devices. Earlier in the day's trading, the company hit a 12-month high of 74 1/16.

Another technology stock, Cisco Systems Inc. (Nasdaq: CSCO), enjoyed significant gains Monday, rising 2 to 65 1/2. The sector fell overall, however, with the Philadelphia Stock Exchange's semiconductor index dropping 2.05 percent.

Intel is the world's largest manufacturer of computer chips. The Santa Clara, California-based company also makes other products for computers, networking and communications.