AMD Shares Down 10% On Trimmed Outlook

By Claudia AssisMarketWatch Pulse

Shares of Advanced Micro Devices Inc. dropped as much as 8% late Monday after being halted earlier in the after-hours session. The company cut its outlook, saying it expects second-quarter revenue to lag its previous estimate on weaker-than-expected consumer demand for PCs. AMD said it is now expecting second-quarter revenue to be down about 8% from the first quarter, compared with earlier guidance of a decline of just 3%, plus or minus 3%. Shares had ended the regular session off 2.4%.

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