Equity Movers: Intel, Xilinx, PSINet, Qualcomm
Intel, Xilinx, PSINet, Qualcomm, O2Micro International and ADC Telecommunications are among the companies expected to move in the markets Thursday.
Intel (INTC): The chipmaker said fourth-quarter sales are on track with forecasts. Last month, Santa Clara, Calif.-based Intel said fourth-quarter revenue would rise 4 percent to 8 percent from the third quarter's $8.73 billion. Shares of Intel rose $2.25, or 5 percent, to $47.13.
Xilinx (XLNX): The maker of programmable computer chips said it remains on track for 12 percent growth this quarter from last quarter. Xilinx sank almost 7 percent Wednesday after rival Altera said fourth-quarter sales will be on the low end of its forecast. Shares of Xilinx rose $3.50, or about 5 percent, to $70.94.
PSINet (PSIX): The Internet service provider said fourth-quarter results will be lower than forecast. President and chief operating officer Harold Wills resigned, the company said. Shares of PSINet fell $3.69, or almost 55 percent, to $3.03.
Qualcomm (QCOM): The developer of wireless phone technology said Thursday it will postpone the spinoff of its Spinco semiconductor unit until at least January, due to market conditions. Shares of Qualcomm rose $1.81, or almost 3 percent, to $63.31.
O2Micro International (OIIM): The supplier of devices for mobile computers said it had third-quarter net income of 6 cents a share. O2Micro was unchanged at $10.50 in early trading.
ADC Telecommunications (ADCT): The maker of telephone equipment said it expects to meet or beat earnings estimates for the fourth quarter. Shares of ADC rose $1.94, or almost 9 percent, to $24.13.