Teradyne Lowers Outlook, Plans Cost Cuts

Stock quotes in this article: TER , LTXC , ATE , INTC , AMD  

The new reductions will bring Teradyne's total planned 2009 cost cuts to approximately $190 million, the company said. "We will continue to adjust our costs as necessary, while pressing ahead with new products and supporting our customers in this challenging market," it added.

Shares of Teradyne slid 3 cents, or 0.7%, to close at $4.45. Among related companies, LTX-Credence (LTXC Quote) lost nearly 4%, and Advantest (ATE Quote) was finished down 0.8%.

Among chip makers, Advanced Micro Devices (AMD Quote) rose 4.6%, while rival Intel (INTC Quote) shed 3%.

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