WRAPUP 3-Cypress, Fairchild strong Q3 fails to cheer investor

jueves 15 de octubre de 2009 20:38 CEST
 

* Cypress EPS $0.10 vs $0.06 est, ex items

* Fairchild EPS $0.12 vs $0.07 est, ex items

* Cypress, Fairchild sees Q4 rev above estimates

* Cypress shares fall as much as 6 pct, Fairchild 10 pct (Recasts; adds conference call details, updates share movement)

By Manasi Phadke

BANGALORE, Oct 15 (Reuters) - Chipmakers Cypress Semiconductor Inc CY.N and Fairchild Semiconductor International Inc FCS.N posted strong quarterly results, helped by improving demand, rising order rates and lower costs, but the numbers failed to impress investors.

Shares of both companies fell amid high expectations from investors, mostly triggered by Intel Corp's (INTC.O: Cotización) strong numbers earlier this week.

Cypress shares fell about 6 percent, while Fairchild slumped as much as 10 percent Thursday on the New York Stock Exchange. However, Cypress' stock recouped some losses after the company issued a strong outlook.

"It's basically because Intel set the bar pretty high," ThinkEquity analyst Vijay Rakesh said. And some of the news was expected, he added.   Continuación...