Mellanox shares drop on lowered outlook After Hours

By Wallace Witkowski, MarketWatch

SAN FRANCISCO (MarketWatch) — Mellanox Technologies Ltd. shares dropped after hours Wednesday as the data-storage company cut its revenue outlook for the fourth quarter.

Shares of Mellanox /quotes/zigman/103295/quotes/nls/mlnx MLNX -15.69% fell 16% in heavy volume after a brief halt as the company reduced its fourth-quarter revenue outlook to a range of $119 million to $121 million, below its previous guidance of $145 million to $150 million. Read more on Mellanox.

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Landec Corp. /quotes/zigman/59476/quotes/nls/lndc LNDC +15.48% shares advanced more than 4% after the food-packaging manufacturer reported that its second-quarter profit more than doubled and it restated its first-quarter results to account for a $2.9 million undervaluation for its investment in Windset Holdings. Correcting the miscalculation adds $1.8 million, or 7 cents a share, to Landec’s quarter ended August 26, 2012, for total first quarter earnings of 17 cents a share. Read more on Landec earnings.

Advanced Micro Devices Inc. /quotes/zigman/216580/quotes/nls/amd AMD +0.04% shares were off by 1.2% after the chip maker appointed interim chief financial officer Devinder Kumar to the permanent position. Read more on AMD.

Questcor Pharmaceuticals Inc. /quotes/zigman/81297/quotes/nls/qcor QCOR +3.54% shares were unchanged after the company said it would acquire pharmaceutical industry supplier BioVectra Inc. for 50 million Canadian dollars ($50.7 million).

Hot Topic Inc. /quotes/zigman/61329/quotes/nls/hott HOTT +10.55% shares were also unchanged after the specialty retailer said its holiday same-store sales rose 2.2% and estimated 2013 earnings to increase 30% to 35% from 2012. Read more on Hot Topic.