Shares of LSI Corp (NYSE: LSI) sank more than 13% on Thursday, a day after the chipmaker issued a third-quarter revenue outlook that missed analysts' estimates.
Vistaprint N.V. (NASDAQ: VPRT) plunged more than 26% after the company reported that its fiscal fourth-quarter profit declined 21% due to currency fluctuations. Also, the company issued fiscal first quarter and full year guidance that fell short of Wall Street expectations.
PMI Group Inc. (NYSE: PMI) slid more than 13% after the company posted a wider second quarter loss of $150.6 million, or $1.11 a share, from continuing operations, compared with a loss of $222.6 million, or $2.71 a share, in the year-earlier quarter. On an adjusted basis, the company lost 88 cents per share. Revenue slumped to $128.9 million from $202.2 million. Analysts, on average, expected the company to report a loss of 65 cents per share on revenue of $168.91 million.
Akamai Technologies Inc. (NASDAQ: AKAM) slumped more than 11% on Thursday, a day after the company issued a disappointing third-quarter earnings guidance. The company said that it anticipates earnings in the current quarter, excluding items, to be about 32 cents to 34 cents. Analysts currently expect the company to report profit of 34 cents per share for the third quarter.
Symantec Corporation (NASDAQ: SYMC) sank as much as 11% on Thursday, a day after the company posted mixed fiscal first quarter results. Net income rose to $161 million, or 20 cents a share, from $74 million, or 9 cents a share, in the prior-year quarter. On an adjusted basis, the company earned 35 cents a share in the latest quarter. Revenue was flat at $1.43 billion. Analysts, on average, expected the company to report earnings of 35 cents per share on revenue of $1.47 billion. The company also provided a weak third-quarter financial forecast. It expects to report earnings in the range of 27-28 cents per share and revenue in the range of $1.445 billion to $1.465 billion. Analysts currently expect the company to report earnings of 35 cents a share on revenue of $1.52 billion for the quarter.
Disclosure: Author doesn't own any of the stocks discussed here.
