Chip Equipment Makers Tumble On Altera Warning
Semiconductor capital equipment makers were tumbling in preopen action this morning on the heels of a warning from
Altera
(ALTR) - Get Altair Engineering Inc. Report
last night.
Altera said it expects fourth quarter growth to be at the low end of earlier estimates provided in October of 12% to 15% growth.
The company was hit by bearish comments this morning.
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Credit Suisse First Boston
, for one, said it thinks Altera and its primary competitor,
Xilinx
(XLNX) - Get Xilinx Inc. Report
, "will likely come under pressure given this news."
Altera also said in a release on its website that its resales for the month of October were "slightly below management expectations."
