Semiconductor bad news

Intel - An analyst said Friday (Dec. 5) he expects Intel Corp. to cut 6 to 7 percent of its total headcount, or roughly 5,000 to 6,000 employees, as part of a series of cost-cutting moves that could save the company as much as $1 billion annually.

Texas instrument - TI (Dallas) said it now expects earnings per share of 10 to 16 cents, down from prior guidance of 30 to 36 cents per share. That is a huge drop !!!

Altera - Altera (San Jose, Calif.) said it now expects fourth quarter revenue to be down 9 to 12 percent from third quarter levels. The company had previously said it expected revenue to be within a range of up 1 percent sequentially to down 3 percent. Altera said it is experiencing slower-than-anticipated sales across all market segments, with particular weakness in the computer/storage and consumer segments.

Broadcom - Broadcom (Irvine, Calif.) said it now expects revenue of $1.05 billion to $1.10 million in the fourth quarter, down from prior guidance of $1.17 billion to $1.24 billion. Broadcom also revised its gross margin and operating expense guidance for the quarter.

IDT - IDT (San Jose) said it expects revenue for the current quarter to decline 15 to 18 percent sequentially and be between $165 million and $170 million The company had early projected revenue of $170 million to $185 million. IDT said it now expects non-GAAP earnings per share of 14 to 15 cents, down from the previous forecast of 19 to 21 cents.