PREMARKET ALERT: Synaptics (SYNA)

Posted in General 
July 31st, 2009

Synaptics Inc. (Nasdaq: SYNA) shares are down 19 percent Friday to $29 in early premarket trading at 7:40 a.m. Eastern; the stock had been among the most active after-hours issues. The company said CEO Francis Lee, is retiring, and will be replaced by Thomas Tiernan, President and COO, effective immediately. The company posted EPS of 47 cents a share, beating EPS expectations by 3 cents, but said PC-based revenue will decline, as the company expects less revenue from multi-media control applications and lower prices on its touchpad-based products — Mike Tarsala

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