This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AMD, Intel: After-Hours Trading

Stocks in this article: AMD INTC

NEW YORK ( TheStreet) -- The chips were down in Wednesday's after-hours session after Advanced Micro Devices (AMD) made a deep cut to its revenue growth forecast, mainly because of manufacturing issues at a plant in Germany.

AMD, which said supplies of its Llano chip was impacted by the problems, said it now sees sequential revenue growth of 4-6% for its fiscal third quarter ending this month vs. a prior projection for growth of 10%, plus or minus 2%.

The company also scaled back its gross margin expectations, going to 44-45% from its previous view of 47%, and said it had also seen an adverse impact because shipments of its next-generation server processor, codenamed Interlagos, happened later in the quarter than anticipated.

The current average estimate of analysts polled by Thomson Reuters is for earnings of 18 cents a share in the September-ending quarter on revenue of $1.72 billion. In its second quarter ended in June, the no. 2 chip maker behind Intel (INTC) posted revenue of $1.57 billion.

Shares of AMD were last quoted at $5.64, down 8.3%, on volume of 1.92 million, according to Based on Wednesday's regular session close at $6.15, the stock was already down more than 20% so far in 2011.

Intel shares were seeing some selling as well, falling 1.7% to $22.13 on after-hours volume of 5.7 million.

AMD said it plans to report its third-quarter results after the closing bell on Oct. 27. Sentiment on the company was weighted to the negative ahead of this news with 22 of the 35 analysts covering the shares at either hold (17), underperform (4) or sell (1) vs. the remainder at either strong buy (9) or buy (4).

Intel reports its quarterly numbers on Oct. 18, and Wall Street is looking for a profit of 61 cents a share on revenue of $13.9 billion, a figure that would represent sequential growth from a second-quarter total of $13 billion.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to:

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs