XilinxXilinx ( XLNX - Get Report) was weak in late trades as well, slumping 4.5% to $27.10 at last check with more than 170,000 shares changing hands. The move comes after the San Jose, Calif.-based maker of programmable logic chips said it expects a sequential sales decline in the current quarter to be deeper than previously anticipated because of weak demand from some of its large wireless communications customers. Xilinx now anticipates sales for its fiscal third quarter ending Dec. 31 to fall between 7% and 9% from its total of $619.7 million in the September-ended period. Its prior sales outlook was for between a flat performance and a sequential decline of 4%. Using the 7-9% range, the company's projection works out to quarterly sales of roughly $563.9 million and $576.3 million for the December-ending period. The current average estimate of analysts polled by Thomson Reuters is for a profit of 58 cents a share on revenue of $604.7 million in the quarter. The news prompted selling in shares of Altera ( ALTR - Get Report), Xilinx's main competitor, as well. Its stock fell more than 3% to $34.66 on volume of almost 275,000.
Oxford IndustriesShares of Oxford Industries ( OXM - Get Report) jumped late after the Atlanta-based fashion apparel maker announced its acquisition of Sugartown Worldwide Inc., which owns the women's brand Lilly Pulitzer. Financial terms of the deal weren't disclosed in a press release announcing the transaction but Oxford said in a Form 8-K filing with the Securities and Exchange Commission that the all-cash acquisition carried a purchase price of $60 million, and that the deal includes an earnout agreement allowing for the payment of an additional $20 million in cash over the next four years if the acquired assets achieve certain performance targets.
Oxford, whose other brands include Tommy Bahama and Ben Sherman, also said it expects the Lilly Pulitzer business to contribute more than $70 million in sales in fiscal 2011, adding earnings of roughly 40 cents a share to its results. The stock was last quoted at $24.35, up 9.8%, on volume of around 54,000, according to Nasdaq.com. Based on a regular session close at $22.17, the shares had gained 5.5% year-to-date.