By William Trent, CFA of Stock Market Beat
Hot on the heels of the National Semiconductor (NSM) disappointment, Xilinx (XLNX) cut its own earnings forecast.
Xilinx Revises December Quarter FY07 Guidance: Financial News – Yahoo! Finance
Xilinx, Inc. (Nasdaq: XLNX – News) today announced its business update for the December quarter of fiscal 2007.* The Company now expects December quarter sales to be down 2% to 5% sequentially due to weaker than anticipated turns business in the month of November, particularly from communications customers. This is a revision from previous sales guidance of up 2% to 5% sequentially.
* Gross margin guidance is expected to be unchanged at 61% to 62%, including approximately $2 million of stock-based compensation charges.
Who’s next?
The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: FedEx (FDX) put options; Intuit (INTU) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Lion’s Gate (LGF); Three Five Systems (TFS); Adobe Systems (ADBE) call options; IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Ceradyne (CRDN) put options; Lion’s Gate (LGF) call options; Dell (DELL) put options; Plantronics (PLT) put options
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