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Sawtek Plunges on Guidance

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Wireless component maker Sawtek (SAWS) was down 31.8% in preopen Island trading. After Thursday's close, the company said first-quarter earnings were 46 cents per share, beating the Street's 42-cent estimate and the year-earlier 23 cents. But Sawtek said second-quarter results would be largely flat with those of the same period last year due to slowdowns in the wireless industry and the overall economy.

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