Telecommunications equipment manufacturer Virata (VRTA - Get Report) was down 51.1% in preopen Island trading after it warned that third-quarter earnings would be 4 cents per share, below the First Call/Thomson Financial forecast of 14 cents. The company said revenue for the third and fourth quarters would be lower than expected because it had to delay semiconductor shipments to customers.
Virata Cut in Half on Warning
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.