EZchip Slips Most in Two Weeks in New York on Cisco Earnings
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EZchip Semiconductor Ltd., an Israeli maker of network processors, sank the most in two weeks in New York after customer Cisco Systems Inc. forecast fourth-quarter sales and profit that missed analysts’ estimates.
EZchip dropped 7.4 percent to $39.96 by 12:07 p.m. in New York, the most since April 24 on a closing basis. About 50 percent of EZchip’s sales in the first quarter were from Cisco, the Yokneam, Israel-based company said in a conference call with analysts yesterday.