Conexant (CNXT) - Get VanEck Vectors ChinaAMC SME-ChiNext ETF Report was up 10.2% in early trading after the communications chip maker warned its revenue and EPS for the third quarter would be lower than previously estimated, and said it would cut 450 more jobs, or 6% of its workforce.
Conexant said it expected to lose 45 cents a share for the quarter, excluding charges. That figure misses the consensus estimate by 2 cents, but is still at the low end of projections from analysts polled
Thomson Financial/First Call
The company expects revenue of $200 million, vs. previous guidance of $206 million.
Conexant said in April it was cutting 1,500 jobs.