AMD falls on revenue forecast cut |
| Financial Times - Oct 11, 2012 |
AMD shares took a hit in after-hours trading, falling 7.8 per cent to $3.2, after the second-largest chipmaker cut its third-quarter revenue forecast, citing weak demand across all product lines.
Overall, US equities, which initially got a boost from positive jobs data showing an unexpected fall in unemployment claims, failed to hang on to early gains and finished roughly where they started.
The S&P 500 index was flat at 1,432.88. The Dow Jones Industrial Average was fractionally lower at 13,326.77 and the technology-heavy Nasdaq Composite slipped 0.1 per cent to 3,049.38
Shares in Sprint Nextel jumped on Wall Street after it emerged the third-largest US mobile company by subscribers was in talks to sell a majority stake to Japan’s SoftBank.
The Japanese telecoms company was believed to be offering $12.8bn for a 75 per cent stake in Sprint Nextel. The stock rose 14.1 per cent to $5.75, while the company’s market value has more than doubled since the beginning of the year.
Read Full Article from Financial Times
- Posted: 2012-10-11 16:59:47
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