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
Advanced Micro Circuits
up 4.9% and
was up 0.6%. Leading PC processor maker
was down 0.3%.
was up 2%.