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Los Angelas, CA -- (SBWIRE) -- 10/12/2012 -- Advanced Micro Devices, Inc.(NYSE:AMD) said yesterday that its third quarter revenue has probably taken a hit of 10 percent compared to the second quarter, thanks to lower demand for all its products. This announcement resulted in the shares of the chip maker falling nearly 8% in after-hours trading. The company had previously predicted a decline of 1 percent, give or take 3 percent.AMD wrote down its inventory value by $100 million because of a drop in demand for a few products. It also cuts the prices of its products in the Computing Solution Group for the same reason. Tech stocks meandered in early trading Friday, with Advanced Micro Devices Inc. among the top decliners. AMD shares fell more than 8%, $2.92, after the chipmaker cut its quarterly forecast. Hard disk-drive makers Seagate Technology and Western Digital Corp. each gave up more than 3% after Citigroup analyst Joe Yoo cut his ratings on both stocks to sell. The Nasdaq Composite Index managed to rise 7 points to 3,057.
Will AMD Rebound After Today’s Slump? Find Out Here
Liquidity Services (NASDAQ: LQDT) was downgraded by analysts at Bank of America from a buy rating to a neutral rating.Liquidity Services opened at 43.61 on Friday. Liquidity Services has a 52 week low of $26.39 and a 52 week high of $66.57. The company has a market cap of $1.352 billion and a P/E ratio of 30.73.Liquidity Services last announced its earnings results on Tuesday, July 31st. The company reported $0.56 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.10. Liquidity Services’s revenue was up 45.6% compared to the same quarter last year. On average, analysts predict that Liquidity Services will post $1.83 earnings per share for the current fiscal year.
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Travelzoo Inc. (NasdaqNM:TZOO) is -3.25 - -13.83% from the previous close of $23.50. It traded between $19.34 - 20.74 with total traded volume of 312127 shares. At Current Market Price, TZOO is in distance of -13.60% from its 50-day Moving Average price of $23.4369 and -12.81% from its 200-day Moving Average price of $23.2258.Travelzoo Inc. (TZOO) updated its third quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.20-0.22 for the period.TZOO has been the subject of a number of recent research reports. Analysts at Benchmark Co. raised their price target on shares of Travelzoo from $22.00 to $24.00 in a research note to investors on Thursday, October 4th. They now have a hold rating on the stock. On a related note, analysts at Ascendiant Capital Markets cut their price target on shares of Travelzoo from $29.00 to $27.00 in a research note to investors on Thursday, October 4th. They now have a buy rating on the stock.Shares of Travelzoo Inc. (TZOO) traded down 13.45% during mid-day trading on Friday, hitting $20.3399. Travelzoo Inc. (TZOO) has a one year low of $19.38 and a one year high of $34.95. The company has a market cap of $324.6 million and a P/E ratio of 16.27.
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Sycamore Networks, Inc.(NASDAQ:SCMR) shares gained 0.82% and closed at $14.67 in yesterday’s session after the company posted fourth-quarter GAAP net loss of $2.5 million, or $0.09 per share, narrower than $3.6 million, or $0.13 per share in the prior year quarter. Non-GAAP net loss narrowed to $0.9 million, or $0.03 per share from $2.5 million, or $0.0.09 per share in the comparable quarter last year. Revenue for the fourth quarter of fiscal 2012 was $16.8 million, compared to $13.0 million in the year-ago period.Sycamore Networks (NasdaqNM:SCMR) is +0.58 - +12.42% from the previous close of $4.67. It traded between $4.74 - 5.29 with total traded volume of 700614 shares. At Current Market Price, SCMR is in distance of -64.92% from its 50-day Moving Average price of $14.9649 and -64.69% from its 200-day Moving Average price of $14.8673.
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