lowered its earnings estimate on
to $1.78 from $1.96 for 2001, a day after the chipmaker
warned that sluggish orders would bring earnings and sales down for the fiscal third quarter.
National Semiconductor said earnings for the third quarter would be 20 cents to 22 cents a share. According to
First Call/Thomson Financial
, the consensus estimate is 31 cents a share. Analysts expect the company to earn $1.98 for 2001.
National, which is based in Santa Clara, Calif., lost $2.56, or 9.4%, to $24.75 in
New York Stock Exchange
Goldman rates National Semiconductor a market outperformer.