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BUSINESS BRIEFS.(TO THE POINT)
TECHNOLOGY
Ingram Micro falls on Q2 outlook
Shares of the world's largest distributor of computer products dropped 26% to 11.95 after it warned Q2 earnings would fall below projections. The company said it expects Q2 sales of $5.6 bil-$5.8 bil and EPS of 13-16 cents, while views were for $6.1 bil in sales and 22 cents EPS. The disappointment came after it met Q1 views, earning 24 cents a share on revenue of $6.28 bil.
** Tech Data was hurt by rival Ingram Micro's lower guidance. Shares fell nearly 12% to 34.06.
** SafeNet fell 19% to 21.50 after the firm met Q1 views of 18 cents a share, but missed sales views with $24 mil. The security firm's Q2 forecast of 23-31 cents a share on $54-$56 mil revenue is at or below views of 31 cents on $56.8 mil.
** PalmOne CFO Judy Bruner will leave. She'll become CFO at San-Disk, and Palm corporate development VP Philippe Morali will become PalmOne's acting CFO.
** Advanced Micro Devices named President and CEO Hector Ruiz as its chairman. Co-founder and outgoing chairman W.J. Sanders was appointed chairman emeritus of the No. 2 PC chip maker.
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