Cypress Semiconductor (CY) - Get Report was up 0.7% in midmorning after it said its second-quarter earnings would be between breakeven and 2 cents a share, vs. analysts' expectations of a 2-cent profit.

The company said revenue would be $175 million to $185 million, down sharply from the first quarter's $262 million. In the year-ago period, the company earned 50 cents a share on revenue $300.1 million.

Elsewhere in the sector, semiconductor giant

Intel

(INTC) - Get Report

was down 1.4%, while

Advanced Micro Devices

was down 4.6%. The

Semiconductor Index

(SOX)

was down 2%.