Altera Slides 5.8% as Estimates Cut

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Altera

(ALTR) - Get Report

was down 5.8% in preopen

Island

trading after

Lehman Brothers

said that the specialty chipmaker and its competitor,

Xilinx

(XLNX) - Get Report

are unlikely to make revenue targets due to slowing demand in November.

Xilinx was down 4.1%. Lehman cut its earnings estimates for both companies.