Vitesse Semiconductor Shrugs Off Actions

By TSC Staff ,

Vitesse Semiconductor (VTSS) was up 12.5% in midafternoon despite bad news today and Wednesday.

Standard & Poor's

today adjusted the communication chipmaker's outlook downward to negative from stable. Wednesday

Prudential Securities

cut its price target to $28 from $38, on the heels of the company's warning on third-quarter results.

The

Semiconductor Index

(SOX)

was up 5%.

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