By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — Mellanox Technologies Ltd. shares dropped after hours Wednesday as the data-storage company cut its revenue outlook for the fourth quarter.
Shares of Mellanox /zigman2/quotes/202453629/composite MLNX -0.93% fell 16% in heavy volume after a brief halt as the company reduced its fourth-quarter revenue outlook to a range of $119 million to $121 million, below its previous guidance of $145 million to $150 million. Read more on Mellanox.
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Landec Corp. /zigman2/quotes/202795542/composite LNDC +1.35% shares advanced more than 4% after the food-packaging manufacturer reported that its second-quarter profit more than doubled and it restated its first-quarter results to account for a $2.9 million undervaluation for its investment in Windset Holdings. Correcting the miscalculation adds $1.8 million, or 7 cents a share, to Landec’s quarter ended August 26, 2012, for total first quarter earnings of 17 cents a share. Read more on Landec earnings.
Advanced Micro Devices Inc. /zigman2/quotes/208144392/composite AMD -4.27% shares were off by 1.2% after the chip maker appointed interim chief financial officer Devinder Kumar to the permanent position. Read more on AMD.
Questcor Pharmaceuticals Inc. shares were unchanged after the company said it would acquire pharmaceutical industry supplier BioVectra Inc. for 50 million Canadian dollars ($50.7 million).
Hot Topic Inc. shares were also unchanged after the specialty retailer said its holiday same-store sales rose 2.2% and estimated 2013 earnings to increase 30% to 35% from 2012. Read more on Hot Topic.