AMD, ASML, RIM: Tech Premarket
The No. 2 chipmaker slashed its forecast after market close on Monday, citing weaker-than-expected sales in China and Europe, along with weak consumer demand for PCs.
AMD now expects its revenue to decrease 11% sequentially. Previously, the Sunnyvale, Calif.-based company forecast a 3% increase, plus or minus 3%, sequentially.
Shares of AMD plunged 9.07% to $5.11 early on Tuesday.
As part of the agreement announced on Monday, Intel is investing around $1 billion in ASML's R&D over five years, and will eventually take a $3.1 billion, or 15% stake, in the Netherlands-based firm.
ASML shares climbed 9.88% to $53.25 before market open. The company was also one of the most active premarket Nasdaq stocks on share volume of 350,800.
Intel shares dipped 1.22% to $25.85 on Tuesday.
Sirius XM(SIRI) was another of the most active Nasdaq stocks, rising 0.24% to $2.08 on share volume of 220,452.
Research in Motion(RIMM) , which hosts its annual general meeting of shareholders on Tuesday, was a modest gainer, climbing 0.39% to $7.70.
TheStreet will be live-blogging RIM's shareholder meeting, starting at 9:30 a.m. EDT.
--Written by James Rogers in New York.
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