AMD has higher loss than expected...

Not such good news for Advanced Micro Devices Inc, who is reporting a $611 million loss for the first three months of the year. This compares to a profit of $185 million for the same time period last year.

Dragged down by sharply lower unit sales and average selling prices, AMD warned twice in the past two months it would not meet its own forecasts. Last week the company shaved about $400 million from its revenue guidance for the quarter, said it would cut 20 percent of its capital expenditures budget for the year, and announced it was imposing a partial hiring freeze to clamp down on costs.

Still, the first-quarter loss was greater than expected.