Infineon in trouble

Troubled German chip maker Infineon slumped deeper into the dark after a profit warning.

Shares in the German chip maker plummeted by more than 11 percent and you could pick one up for 5.36 euros on the Frankfurt stock exchange.

Infineon told the Economic Times that it was expecting “a slight decline” in sales in the third quarter and only flat sales in the fourth quarter.

Infineon moaned that “the current global economic uncertainties” led to a softer than expected development in its operating business.

In short, the economy is terrible and the company is not making enough cash.

The weak euro was not offering much relief, with Infineon adding it would publish its third-quarter results and a detailed outlook for the fourth quarter on 31 July.

That sort of news, following on a fairly bad year for Infineon, was enough to send the share price down.