Analog Devices Meets Lowered Estimates, Slides
Analog Devices
(ADI)
fell 4.1% in late morning, a day after it posted fourth-quarter earnings of 50 cents a share.
That matched the Street's diminished estimate and beat the year-ago 25 cents a share.
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The chipmaker said second-quarter sales would rise 22% to 25% from year-earlier levels.
ABN Amro
upgraded the stock to buy from add, but
Goldman Sachs
cut its 2001 earnings estimate to $1.75 a share from $1.95.
