Market Report -- Story Stocks (ALTR)

December 1, 2009 10:23 AM ET

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Altera

Last night, Altera (ALTR ) raised its fourth quarter revenue guidance, which is now above current Wall Street expectations.

The company now expects revenue in the fourth quarter to grow 15% to 18% above third quarter levels, which we calculate to be approximately $330 million to $338 million vs. the $326 million consensus. This is up from prior guidance of revenue growth of 6% to 10%, which we calculate to be $303.8 million to $315.3 million.

Altera expects all four of its vertical markets to be up sequentially in the fourth quarter reflecting a strong new product cycle as well as improving end market trends and customer desire for appropriate inventory to support sales levels.

Sales to wireline and wireless telecommunications equipment manufacturers will likely be the largest contributor to fourth quarter growth as demand for Chinese and Indian deployments has continued to improve.

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