Spansion Delisted By Nasdaq; Stock Swoons

Spansion announced today that the stock will be delisted by Nasdaq at today’s close. The NOR flash memory chip company, which is operating under Chapter 11 of the federal bankruptcy code, said that it is “making progress” on its restructuring plans.

Spansion Q2 Beats Street on Stronger Consumer Sector

Spansion (SPSN), maker of NOR Flash memory chips, posted second quarter revenue of $613 million, ahead of the Street consensus of $580.73 million. The company lost 63 cents a share in the quarter, better than the loss of 75 cents that analysts had expected.