- Mar 26, 2007
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http://online.wsj.com/article/BT-CO-20090422-717607.html
DOW JONES NEWSWIRES
Standard & Poor's Ratings Services on Thursday lowered its credit ratings on struggling chip maker Advanced Micro Devices Inc. (AMD) further into junk territory, saying liquidity for the company and its spinoff may not be enough to fund near-term losses and debt requirements.
Earlier Thursday, the company reported its 10th consecutive quarterly loss, but posted better-than-expected sales. Analysts said Advanced Micro Devices will likely face more hurdles in the difficult economy, as semiconductor manufacturers have seen few signs of rising demand for devices that use chips.
AMD management has been trying to turn around the company by slimming down and focusing on core businesses. Last month, it spun off its manufacturing operations into a new company, Globalfounderies, largely funded by investors from Abu Dhabi.
The credit agency lowered its corporate credit and senior secured ratings on the company by two notches to CCC+, in highly speculative territory. The ratings were placed on watch for downgrade earlier in April, and the outlook is negative.
S&P analyst Lucy Patricola said the agency was concerned about the company's liquidity even as the company won future capital investments, which only partly offset the expected near-term operating losses.
Advanced Micro Devices has been hurt as computer buyers have put off their purchases and PC manufacturers slashed their chip inventories. Still, the company said the severe inventory corrections appeared to be stabilizing and should play out completely in the coming quarter.
Shares were down 1.5% to $3.28 in after-hours trading. The company's stock has lost about half of its value since September.
-By John Kell, Dow Jones Newswires, 201-938-5285, john.kell@dowjones.com
This is INTEL's best and last chance to sink AMD ... so watch them MASSIVELY drop their prices over the next few weeks ... in an all out effort to crush AMD's 2nd quarter sales ... which should bankrupt them beyond all doubt.
INTEL might get out of all of the legal battles as a result.
Then they would have a total monopoly on the CPU industry.
Then they can triple the price of their entire line of products the week after.
You and I will then be forced to eat gruel (Vista) and water (Celeron).
You want more ??
DOW JONES NEWSWIRES
Standard & Poor's Ratings Services on Thursday lowered its credit ratings on struggling chip maker Advanced Micro Devices Inc. (AMD) further into junk territory, saying liquidity for the company and its spinoff may not be enough to fund near-term losses and debt requirements.
Earlier Thursday, the company reported its 10th consecutive quarterly loss, but posted better-than-expected sales. Analysts said Advanced Micro Devices will likely face more hurdles in the difficult economy, as semiconductor manufacturers have seen few signs of rising demand for devices that use chips.
AMD management has been trying to turn around the company by slimming down and focusing on core businesses. Last month, it spun off its manufacturing operations into a new company, Globalfounderies, largely funded by investors from Abu Dhabi.
The credit agency lowered its corporate credit and senior secured ratings on the company by two notches to CCC+, in highly speculative territory. The ratings were placed on watch for downgrade earlier in April, and the outlook is negative.
S&P analyst Lucy Patricola said the agency was concerned about the company's liquidity even as the company won future capital investments, which only partly offset the expected near-term operating losses.
Advanced Micro Devices has been hurt as computer buyers have put off their purchases and PC manufacturers slashed their chip inventories. Still, the company said the severe inventory corrections appeared to be stabilizing and should play out completely in the coming quarter.
Shares were down 1.5% to $3.28 in after-hours trading. The company's stock has lost about half of its value since September.
-By John Kell, Dow Jones Newswires, 201-938-5285, john.kell@dowjones.com
This is INTEL's best and last chance to sink AMD ... so watch them MASSIVELY drop their prices over the next few weeks ... in an all out effort to crush AMD's 2nd quarter sales ... which should bankrupt them beyond all doubt.
INTEL might get out of all of the legal battles as a result.
Then they would have a total monopoly on the CPU industry.
Then they can triple the price of their entire line of products the week after.
You and I will then be forced to eat gruel (Vista) and water (Celeron).
You want more ??
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