Verigy (VRGY) Shares Tumble After Disappointing Forecast
By Daniel James Hayden IV
February 24, 2010 2:53 PM
February 24, 2010 2:53 PM
Symbols: VRGY
Shares of Verigy Ltd. (Nasdaq: VRGY) fell nearly 7% a day after the company forecast 2nd quarter results below average analyst expectations.
Verigy reported Tuesday after the market close that it expected a loss of between 3 cents and 12 cents per share for the current quarter.
Excluding special items, Verigy expects earnings to be somewhere between a loss of 8 cents per share and a profit of 1 cent per share.
The news was disappointing to analysts who had an average earnings forecast of 2 cents per share profit.
Morgan Stanley analysts Atif Malik and Michael X. Chu maintained their Equal Weight rating for the chip testing equipment maker.
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