Analog Devices stock falls on weak profit forecast

Analog Devices (ADI) said its earnings for the third quarter jumped six times, compared to last year when the bottom-line was dragged by some acquisition-related expenses and taxes. The stock opened Wednesday’s trading lower after the chipmaker guided fourth-quarter earnings below street view. Net income jumped to $414.5 million, or $1.10 per share, from $68.9 … Continue reading Analog Devices stock falls on weak profit forecast