Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Freescale Falls After Revenue Forecast Missed Estimates

Freescale Semiconductor Ltd., a maker of semiconductor processors, tumbled as much as 14 percent after the company forecast third-quarter revenue that missed analysts’ estimates.

The stock fell 6.4 percent to $9.56 at 9:57 a.m. in New York, after earlier trading as low as $8.79 for the biggest decline since April 20. The Austin, Texas-based company’s stock had declined 19 percent this year through yesterday.

Freescale, which named former Texas Instruments Inc. executive Gregg Lowe as chief executive officer last month, is trying to return to profitability after recording losses for the last two years. Lowe, who replaced Rich Beyer last month, will conduct a strategic review of the company’s business lines and expenses in the coming weeks.

“We will complete an analysis of the market potential, our strengths and weaknesses,” he told analysts on a call yesterday. “We will continue to scrutinize expenses that do not impact our ability to grow,” he said.

The company will eliminate its corporate jet and associated flight operations, he said.

Third-quarter revenue will be $955 million to $1.01 billion, according to a company statement yesterday. That compared to an average estimate of $1.05 billion, according to data compiled by Bloomberg.

Advanced Micro Devices Inc., the second-biggest maker of

processors for personal computers, declined 11 percent to $4.32. The company yesterday predicted its sales would decline as much as 4 percent in the current quarter as demand for PCs is dragged down by a slowing economy.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.