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Technology stocks moved lower Friday, with the biggest plunges coming from two companies that slashed revenue forecasts for the recently ended quarter.
Keithley Instruments(KEI Quote), a maker of electrical test equipment, was sliding 20% after the company lowered its fiscal second-quarter revenue projection. The company now sees revenue of about $33 million for the March quarter, down from an earlier forecast of $37 million to $41 million. Analysts polled by Thomson First Call project revenue of $40.3 million.
Keithley blamed the shortfall on more cautious spending patterns among its customers. Shares were trading down $3.06 to $12.44. ...
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