WOLFSON Microelectronics yesterday flirted with a new all-time low after two US semiconductor companies, Nvidia and Advanced Analogic Tech, lowered their revenue guidance for the full year, blaming, in part, general softness in demand from customers
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Analysts at ABN-Amro predicted the warnings would hit sentiment at companies exposed to consumer electronics, including Edinburgh-based Wolfson, which has said that, despite the loss of key iPod contracts from Apple, it still expects revenue growth this year.
Shares traded as low as 96p, below its record closing low of 98.5p – yesterday but recovered to close down 4.5p at 100.5p.
BPI fell as it reiterated that first-half profits would be "somewhat below" last year, hit by a last-minute increase in raw materials costs. A slowdown in sales to the construction sector was offset somewhat by sales to the agriculture sector, it said. Shares fell 10.75p to 234.25p.
Melrose Resources, the FTSE-250 oil explorer, added 5p to 435p after another positive drilling update.
Palmaris Capital, the resources minnow, was boosted by the contract between ScottishPower and Scottish Resources on Wednesday. Shares in Palmaris added 14 per cent to 9.13p.
The full article contains 208 words and appears in The Scotsman newspaper.
