AMD's second quarter margins squeezed

AMD continues to get squeezed by Intel. The company delivered second quarter earnings and a third quarter outlook that fell short of Wall Street targets.

The chipmaker, which had a tough Intel earnings act to follow, delivered a net loss of $330 million, or 49 cents a share, on revenue of $1.18 billion, down 13 percent from a year ago and flat from the first quarter. The rub: AMD's net loss includes a 13 cents a share gain from the sale of inventory written down in the fourth quarter.