Cypress Semiconductor Corporation (NASDAQ: CY) went down 4.98% to $10.50 on a traded volume of 287k shares. The Company provided preliminary, unaudited fourth quarter financial results. The consolidated revenue is expected to be in the range $177 million to $179 million for fourth quarter. Non-GAAP fully diluted earnings per share of $0.03 to $0.04 due to lower revenue and lower gross margins due to product mix, lower manufacturing absorption and inventory related charges. GAAP loss per basic share will be around ($0.20) to ($0.22).
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Calumet Specialty Products Partners L.P (NASDAQ: CLMT) decreased 5.8% to $31.30 on a traded volume of 652k shares. The Company announced the pricing of an underwritten public offering of 5,000,000 common units at $31.81 per unit. Calumet also granted the underwriters a 30-day option to purchase up to 750,000 additional common units. This offering is expected to close on January 11, 2013. Calumet plans to use the net proceeds from this common unit offering to repay borrowings outstanding under its revolving credit facility and for general partnership purposes.
Zynga Inc (NASDAQ: ZNGA) moved down 1.52% to $2.58. The Company has closed 11 underperforming game titles including "Petville." The Company had said in October that it would shut down 13 titles as its revenue slowed.
AK Steel Holding Corporation (NYSE: AKS) decreased 1.43% to $4.84 on a traded volume of 277k shares. Credit Suisse restated outperform rating on AK Steel Holding in a report issued. The firm currently has a $6.00 target price on the stock. AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary.
Advanced Micro Devices Inc (NYSE: AMD) soared 3.0% to $2.75 on a traded volume of 2.72 million shares. The Company said Devinder Kumar will become chief financial officer. The Company is a global semiconductor company with facilities globally.
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