posted its earnings yesterday, shares fell off today. Micron was down 3.8% by the afternoon.
The Boise-based memory chipmaker said its loss widened to $290 million, or 36 cents per share, in the third quarter. That's compared to a loss of $236 million, or 30 cents per share, in the year-ago period. The company also took a 26% sales hit compared to the year-ago period, posting $1.1 billion in sales this quarter.
Micron, which makes memory components for electronics like phones and music players, also took a $53 million write-down on its Aptina imaging assets. Analysts polled by Thomson Reuters anticipated a loss of 43 cents per share on revenues of $1.18 billion. The company has been hurt by a glut in the dynamic random access memory chips market, but said yesterday that revenues from DRAM products grew 14% from the previous quarter.
Other semiconductors seeing movement today:
was up 4 cents to come to $16.36 by the early afternoon.
was changing hands in positive territory, up nearly 1%. German-based
watched its ADRs gain 5.3% by the afternoon.
On the other hand,
shares were falling 1%, or 12 cents, to come to $11.88.
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