Diodes sinks to new low on revised guidance
Shares of Diodes Inc. (Nasdaq:DIOD) plunged 10% to a new 52-week low as the Dallas-based company said it expects its third-quarter results to be at the low end of its previously provided financial guidance.
Citing global economic weakness, the electronics component manufacturer said it now expects earnings per share to range between $0.26 and $0.30. Analysts were expecting earnings per share of $0.33.
By mid-day, Diodes is at $18.74, down $2.16 from Thursday’s close, after having dipped as low as $17.74 earlier in the day. Previously, shares had ranged between $19.51 and $35 during the past year.
For detailed price information and news stories on Diodes, click DIOD.
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