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Technology Stocks : Spansion Inc.

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Apr 16 5:00 PM EST

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From: Rink	11/24/2008 5:16:11 PM
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Spansion Updates Fourth Quarter 2008 Outlook SUNNYVALE, Calif., Nov 24, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Spansion, Inc. (Nasdaq: SPSN), the world's leading pure-play provider of Flash memory solutions, today announced an update to its outlook for its fourth quarter ending December 28, 2008. In anticipation of a weak holiday season, Spansion's customers are shutting down factories, and slowing down manufacturing run rates. As a result, Spansion anticipates that net sales for its fourth quarter of 2008 will be approximately 20% lower than its previous quarter. Spansion is taking action by cutting COGS (cost of goods sold) by approximately 15%, and further reducing operating expenses. ... _______ Heavy shit.

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