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GT Advanced (GTAT) -7.2% after warning it expects Q3 revenue to be at the low end of its...

GT Advanced (GTAT) -7.2% after warning it expects Q3 revenue to be at the low end of its $110M-$140 guidance range (consensus stands at $153M). In addition, the company: 1) Plans to cut 25% of its workforce in a restructuring it expects will produce $13M/year in cost savings, and $4.2M in charges. 2) Warns 2013 will be challenging, and that Asian LED/solar equipment customers are "experiencing severe financial difficulties." 3) Has re-shuffled the execs in charge of LED and solar ops. (PR)
Comments (4)
  • laguna_b
    , contributor
    Comments (284) | Send Message
     
    Trading at cash value.....makes for a buyout candidate at this level. Thoughts?
    31 Oct 2012, 11:17 AM Reply Like
  • dknow
    , contributor
    Comments (52) | Send Message
     
    Another chance to buy cheap.
    3 Nov 2012, 10:13 AM Reply Like
  • srspa77
    , contributor
    Comments (326) | Send Message
     
    another chance to lose money.
    14 Nov 2012, 12:01 AM Reply Like
  • srspa77
    , contributor
    Comments (326) | Send Message
     
    gtat is done.
    27 Nov 2012, 01:20 AM Reply Like
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