AMD, Sprint, Clearwire, Apple: Tech Premarket

NEW YORK (TheStreet) -- AMD (AMD) was the big loser in premarket trading on Friday after releasing weaker-than-expected preliminary third-quarter numbers on Thursday.

The Intel (INTC) rival said it now expects third-quarter revenue of approximately $1.27 billion, a sequential decline of around 10%. Previously, AMD had predicted a sequential decrease of 1%, plus or minus 3%. Analysts surveyed by Thomson Reuters were looking for sales of $1.38 billion.

"The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment," noted AMD, in a statement released after market close.

Investors responded negatively to the numbers, pushing AMD's shares down 8.44% to $2.93 before market open on Friday.

Shares of Sprint (S), which surged more than 14% during Thursday's trading, dipped 1.91% to $5.65 before market open. On Thursday, the Overland Park, Kan.-based company confirmed it's in discussions with Japan's Softbank about a possible "substantial" investment in the No. 3 U.S. telecom provider.

Sprint's key partner Clearwire (CLWR), however, was an even bigger laggard, tumbling 7.21% to $2.06 on share volume of 256,815.

Shares of Apple (AAPL), which is said to be preparing the launch of its new iPad Mini, crept up 0.5% to $631.25.

--Written by James Rogers in New York.

Follow @jamesjrogers

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