NEC Falls on Profit Warning as Other Semis Lift

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The world's third-largest chipmaker, Japan's NEC (NIPNY) , was down 5.1% in late morning after it warned it would post an operating profit for the current fiscal year of 30 billion yen ($250 million), down from previous estimates of 210 billion yen, and said it would post a net loss of about 150 billion yen vs. earlier projections of a 65 billion-yen profit.

The company also said it would cut 300 jobs, some from a California chip plant and the rest from the closure of a semiconductor line in Japan.

Other chip stocks were higher today, with

Applied Materials

(AMAT) - Get Report

up 3.3%,

Advanced Micro Circuits

(AMCC)

up 4.9% and

Broadcom

(BRCM)

was up 0.6%. Leading PC processor maker

Intel

(INTC) - Get Report

was down 0.3%.

The

Semiconductor Index

(SOX)

was up 2%.