TranSwitch Tumbles on Outlook
TSC Staff
06/08/01 - 10:30 AM EDT
TranSwitch (TXCC) was down 15.9% in midmorning, a day after it warned that it expects a second-quarter pro forma loss of 10 to 12 cents per share. The Street had been expecting a 5-cent profit. The company said weakness in the market has spread to Europe and Asia.
Goldman Sachs cut its earnings estimates for TranSwitch and
Broadcom (BRCM), another communications chipmaker.
Robertson Stephens also cut its forecast for TranSwitch. Broadcom was down 6.1%.
