Newspaper article St Louis Post-Dispatch (MO)

Profit Woes Sink Computer-Related Stocks

Newspaper article St Louis Post-Dispatch (MO)

Profit Woes Sink Computer-Related Stocks

Article excerpt

Stocks fell Tuesday as a string of computer-related companies warned of slowing profit growth, fueling the largest drop in the Nasdaq composite index in three months.

Lattice Semiconductor Corp. and ADFlex Solutions Inc. joined a host of chipmakers that recently announced weak sales in the current quarter.

Losses in Microsoft Corp., Intel Corp. and Cisco Systems Inc. helped sink the Nasdaq by 24.58, or 2.03 percent, to 1183.06, its biggest decline since March 8, when a surge in job growth dashed expectations for lower interest rates.

The Dow industrial average fell 24.75 to 5628.03. The broader Standard & Poor's 500 index fell 3.10 to 662.06, its eighth straight retreat.

Lattice said sales for the current quarter will decline 8 percent to 10 percent from last quarter because of falling prices for commodity chips and some customers' excess inventory. Lattice fell 8 7/8 to 25 3/8. Earnings for the current quarter will be disappointing, the company said.

ADFlex Solutions Inc. …

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