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LSI Logic Higher Despite Warning

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Specialty chipmaker

LSI Logic

(LSI) - Get Free Report

was up 0.9% in early trading after it warned that fourth-quarter earnings and revenue would be below expectations due to lower demand resulting from an inventory buildup. The company forecast earnings per share of 34 cents, below its earlier projection of 36 cents. Revenue for the period is now expected to be up 3% to 4% from the third quarter. The earlier forecast was for 10% growth.