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Altera (ALTR) -2.7% AH after guiding on its mid-quarter update for an 8%-10% Q/Q drop in Q4...

Altera (ALTR) -2.7% AH after guiding on its mid-quarter update for an 8%-10% Q/Q drop in Q4 revenue, worse than prior guidance for a 6%-10% drop. The FPGA maker is also guiding for a 2013 gross margin of 69%-70%, in-line with the 69.3% margin Altera reported for Q3, and for 2013 R&D spending of $404M, up 12% from expected 2012 R&D spending of roughly $360M. CC at 4:45 PM ET (webcast). Xilinx (XLNX) -1.8%.
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