• Most Popular
  • Most Shared

UPDATE 1-Chartered Semi releases improved Q2 guidance

Thu Jun 11, 2009 6:38pm EDT

Stocks

   

* Chartered revises Q2 revenues upward

* Chartered lowers Q2 loss projection

LOS ANGELES, June 11 (Reuters) - Chartered Semiconductor Manufacturing Ltd (CSMF.SI) CHRTD.O on Thursday revised its second-quarter 2009 revenue guidance upwards citing improvements in its business.

Chartered said it now expects second-quarter revenues to increase about 60 percent from its first-quarter revenues of $243.9 million, with second-quarter revenues seen in the $338 million to $348 million range, compared with an April forecast of $321 million to $333 million.

The company now expects a second-quarter loss in the range of $45 million to $53 million, versus a previous forecast of loss in the range of $54 million to $64 million. (Reporting by Susan Zeidler, editing by Leslie Gevirtz)



More from Reuters

Photo

Democrats secure 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with holdout Senator Ben Nelson that secured the 60 votes they need to pass the broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review