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SigmaTel shares rise 14% as chipmaker raises sales forecast
Last: 3.45+0.51+17.35%
10:05am 07/09/2007
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SGTL3.45, +0.51, +17.3%) shares rose 40 cents, or 14%, to $3.34 Monday after the maker of microchips used in portable music and media devices raised its second-quarter sales outlook. SigmaTel said it now expects to report sales of $30 million to $31 million, up from its previous forecast of $24 million to $28 million for its second quarter. In a statement, SigmaTel Chief Executive Phil Pompa said the company raised it revenue outlook because of "sales improvement across the board and improved execution throuout the company
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