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Spreadtrum (SPRD) -10.5% AH following its Q3 report, even though results beat estimates and Q4...

Spreadtrum (SPRD) -10.5% AH following its Q3 report, even though results beat estimates and Q4 revenue guidance of $189M-$196M is largely above a $189.9M consensus. There might be some concerns about gross margin - it rose only 20 bps Q/Q in spite of an 8.5% increase in revenue, and was down 450 bps Y/Y. GM is also expected to be flat in Q4. Growing competition in China's TD-SCDMA baseband chip market could be leading to price pressure. Shares have had a nice rally since May. CC at 8PM ET (webcast). (PR)
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