PMC Sierra Rises Despite Warning - TheStreet

PMC-Sierra (PMCS) was up 5.4% in preopen Island trading. Citing weak demand, the communications chipmaker warned after Thursday's close that its second-quarter loss would be 7 to 9 cents per share, below the Thomson Financial/First Call estimate of 2 cents.

Robertson Stephens

and

Salomon Smith Barney

cut their 2001 and 2002 estimates for the company.