PMC-Sierra Lowers 3Q Outlook

According to Oppenheimer, PMC-Sierra Inc. PMCS announced Tuesday that it has "lowered its third-quarter revenue outlook to a range of $161 million to $163 million, from a previous range of $169 million to $177 million. Analysts surveyed by FactSet Research, on average, estimate third-quarter revenue of $173.2 million." PMC-Sierra, Inc. closed yesterday at $7.79.