Novellus Warns

Novellus capped a rough day on Wall Street Tuesday with a disappointing forecast after the close.

Shares of the chip equipment maker fell 3% in after-hours trading after the company lowered order guidance to $285-$290 million, at the low end of the previous range, as bookings got pushed out to the fourth quarter. Earnings will be 20-21 cents a share on revenues of $320 million, the company said, below analysts’ estimates of 22 cents and $324.4 million.

The broader market fell Tuesday after it appeared that Gulf Coast oil production and commerce may face a lengthy shutdown in the wake of Hurricane Katrina.

The Nasdaq fell 8 to 2129, the S&P lost 4 to 1208, and the Dow dropped 50 to 10,412. Volume rose to 1.89 billion shares on the NYSE, and 1.5 billion on the Nasdaq. Decliners led 18-14 on the NYSE, and 18-11 on the Nasdaq. Downside volume was 60% on the NYSE, and 59% on the Nasdaq. New highs-new lows were 116-47 on the NYSE, and 67-49 on the Nasdaq.

Motorola gained 3% on anticipation of a joint music phone with Apple . rose 3% on reports that the company increased its market share in China.

Hutchison plunged 17% on a warning.

CDC lost 9% on the resignations of top company officials.

QLogic fell 5% after selling its drive business to Marvell .

Get the Free Newsletter!

Subscribe to our newsletter.

Subscribe to Daily Tech Insider for top news, trends & analysis

News Around the Web