NEW YORK (TheStreet) -- Advanced Micro Devices (AMD) - Get Report was cut to underperform by Bank of America Merrill Lynch after the chipmaker made a deep cut to its revenue growth forecast, mainly because of manufacturing issues at a plant in Germany.
AMD, which said supplies of its Llano chip were impacted by the problems, said it now sees sequential revenue growth of 4% to 6% for its fiscal third quarter ending this month vs. a prior projection for growth of 10%, plus or minus 2%.
Shares were falling 9.6% to $5.56 in premarket trading Thursday.
new interim CEO Sergio Ermotti reiterated that the Swiss bank's investment banking division was not going anywhere.
Ermotti wrote in an internal memo that the firm would maintain an "integrated bank model" -- an investment bank, wealth management and asset management,
The New York Times
Shares were rising 4.7% to $12.46.
, the Finnish mobile handset maker, plans to cut a further 3,500 jobs by 2012 as it continues
Shares were adding 2.3% to $5.68.
Johnson & Johnson
affiliates have bought
50% stake in the Johnson & Johnson-Merck Consumer Pharmaceuticals joint venture.
The venture had been formed to develop, manufacture, market and distribute certain over-the-counter consumer products in the U.S. and Canada.
Merck shares were gaining 2% to $32.58 and J&J shares were up 0.6% to $63.65.
Crop nutrient company
reported first-quarter sales of $3.1 billion, beating the average analyst estimate of $2.92 billion. However, first-quarter profit came in at $1.17 a share, below the average analyst estimate of $1.29.
Shares were up 1.4% to $58.
Meg Whitman has been in the CEO spot less than a week but
is reportedly already moving to keep
off her back.
The Wall Street Journal,
the tech giant has hired
to advise it on better defending itself against pressure from such investors, who typically purchase significant stakes in a company then lobby for major changes, such as replacing the board or seeking a sale.
Shares were rising 1.3% to $23.50.
is prepared to lose $50 on every Kindle Fire sold as the company attempts to undercut the
Amazon hasn't revealed how much it costs to produce each Kindle Fire tablet, but Piper Jaffray analyst Gene Munster pins the cost at about $250 per unit, above the $199 selling price.
The retail giant on Wednesday revealed its highly anticipated Kindle Fire tablet, expected to be the
to Apple's iPad.
Shares were up 0.8% to $231.64.
CEO Alan Mulally said Thursday the automaker was sticking to its target of adding 7,000 U.S.
over the next two years.
Mulally, speaking from Bangkok, told reporters Ford was still seeing an economic expansion in the U.S., though the recovery "is slower than in the past," according to a report from
Shares were up 0.8% to $10.01.
Discover Financial Services
said the Federal Deposit Insurance Corp. has notified the credit-card issuer of plans to bring enforcement action against the company over its marketing practices, with respect to its fee-based products.
Automotive replacement parts retailer
said its board authorized the repurchase of an additional $750 million of the company's common stock in connection with its ongoing share repurchase program.
-- Written by Andrea Tse in New York.
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