mindTomahawk, WI 4/3/2013 (Expedated) – If only our computers worked as fast as we can think  that be nice. As Wednesday morning slips into Wednesday afternoon we find just such a company that is trying to make that happen not having a sunny day.

Chipmaker Mindspeed Technologies (MSPD) is trading above daily average volume but down some 15% in the morning session.

This is the result of the company lowering its fiscal second-quarter product revenue forecast due to the of slow deployments of their 3G small-cell base stations. The small cell technology will help deliver a signal over a shorter range, which in turn gives mobile users a faster, more consistent voice and data experience. That sounds real good to all us smartphone lovers.

But Mindspeed  has now changed its outlook from the previously predicted product revenue of about 2 percent either up or down from the first quarter’s $38.4 million, to  between about $35.1 million and $35.5 million. The previous implied range would have been between $37.6 million and $39.2 million.

The company said that revenue from 4G/long-term evolution cell base stations is projected to approximately double from the first quarter. Mindspeed is set to report second-quarter financial results on April 30 so stay tuned.

Our second downward mover of the morning is Affymax, Inc. (NASDAQ:AFFY) which is off over 9% and has been trending down for several weeks.

This trend continues with a loss, missing Wall Street’s expectations and coming up short on beating the revenue expectations, three not so good things to have happen. The nuts and bolts look like this, Adjusted EarningsPer Share decreased to $-1.85 in the quarter versus EPS of $-0.88 in the year-earlier quarter. The company’s revenue decreased 76.6 percent to $14.79 million from the year-earlier quarter and the company reported an adjusted EPS loss of $1.85 per share which misses the analyst’s estimates of $-0.61.

To top things off there are three lawsuits filed against AFFY. Two are shareholder class action suits, and one is from the California Superior Court for the County of Santa Clara accusing certain AFFY officers of breaching their fiduciary duties related to the clinical trials of OMONTYS and there may be more to come in the future from those patients who had severe reactions from the drug, including five who may have died due to the reactions, of course that is still speculation.

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