MaxLinear said it now expects third-quarter revenue to fall between $18.4 million and $18.6 million, down from its prior guidance between $20.0 million and $20.5 million. Citing uncertainty in the semiconductor market, the company said customers either reduced the amount of purchase orders within lead time or requested rescheduling of shipments.
Shares of MaxLinear are dropping by $1.42, or 12.5%, to $9.94 in the premarket session. The average daily share volume for MaxLinear is 144,000.
Elsewhere, GTSI Corp. (GTSI) shares are falling by 35 cents, or 8.1%, to $4 in the premarket session, following a 40% loss on Monday. The average daily share volume for GTSI is 66,000.On Monday, Eyak Technology withdrew its offer to buy the IT solutions company for $7.50 per share in cash. The move comes after the U.S. Small Business Administration suspended GTSI from receiving any future contract awards from the federal government. On the upside, Electro Rent (ELRC) shares are rising by 42 cents, or 3.3%, to $13.33 in the premarket session after the electronic test and measurement equipment company reported fiscal first-quarter net income of 22 cents a share on revenue of $50.8 million, compared to year-ago net income of 9 cents a share and revenue of $32.2 million. The average daily share volume for Electro Rent is 33,000. Yum! Brands (YUM) shares will be in focus Tuesday ahead of the restaurant operator's quarter earnings report, due out after the closing bell. Analysts are forecasting a profit of 72 cents a share on revenue of $2.87 billion. The average daily share volume for Yum! Brands is 4 million. -- Written by Robert Holmes in Boston.
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