GlobeSpan (GSPN) was up 8.3% in midmorning after the company posted second-quarter earnings late Monday of 1 cent a share, in line with its June guidance and down from 11 cents in the year-ago period. Revenue was down 21% to $60.3 million.
The network software and chip maker said it reduced its workforce to about 755 from 840.
The company said it was comfortable with Street estimates for the third quarter. Analysts expect the company to post a loss of 8 cents a share.