I suppose we'll see more after-the-fact upgrades tomorrow:
UPDATE 1-Altera boosts outlook on rebounding comms demand
Wed Mar 9, 2005 04:30 PM ET
(Adds company comment, stock movement, background on competitor)
SAN FRANCISCO, March 9 (Reuters) - Altera Corp. (ALTR.O: Quote, Profile, Research) , a maker of programmable microchips, on Wednesday raised its quarterly revenue outlook, citing rebounding demand from communications equipment makers.
In a scheduled update, the San Jose, California-based company said it now expects sales to rise 6 percent from the fourth-quarter level of $239.9 million. Previously, it had targeted a 1 percent to 3 percent improvement.
Its shares rose 1 percent in after-hours trading.
"Sales to customers in the communications market segment have rebounded more sharply than initially anticipated," the company said in a statement.
Xilinx Inc. (XLNX.O: Quote, Profile, Research) , Altera's arch-rival, raised its revenue forecast on Tuesday, targeting a 5 percent to 8 percent increase from an earlier forecast of 1 percent to 5 percent growth.
Altera shares jumped to $20.65 in after-hours trading on Inet from a close of $20.37 on Nasdaq. |
