Altera Updates Q4 Revenue Outlook

Altera ALTR cut its fourth-quarter revenue forecast. Altera now projects Q4 sales to drop 8% to 10% versus the third quarter. The company had earlier expected a fall of 6% to 10%. Altera is expected to report Q4 results on January 23. For next year, it projects expects gross margin of 69% to 70%. Altera shares gained 0.25% to $32.26 in after-hours trading.