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Small chipmaker Micrel Semiconductor(MCRL Quote) sunk 19.7% after it reduced its fourth- quarter guidance. The company said it now projects revenue to be approximately $64 million, which is lower than its Oct. 25 forecast of $66.5 million to $67.8 million.
The shortfall is attributed to lower-than-expected orders from customers in China and Korea. Earnings are now forecast in the range of 10 cents to 11 cents, compared with previous guidance of 13 cents. Shares of Micrel were off $1.54 to $6.28.
Apple(AAPL Quote) has retreated significantly from the $200-mark on Dec. 26 and was off $14.88, or 7.6%, to $180.05 Friday. ...
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