TranSwitch Tumbles on Outlook
TranSwitch (TXCC) was down 15.9% in midmorning, a day after it warned that it expects a second-quarter pro forma loss of 10 to 12 cents per share. The Street had been expecting a 5-cent profit. The company said weakness in the market has spread to Europe and Asia.
Goldman Sachs
cut its earnings estimates for TranSwitch and
Broadcom
(BRCM)
, another communications chipmaker.
Robertson Stephens
also cut its forecast for TranSwitch. Broadcom was down 6.1%.
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