Tech Stocks in Motion
Updated from 1:21 p.m. EDT
Shares of Bonso Electronics International (BNSO) were among the best-performing technology stocks Monday after the telecommunications products manufacturer reported strong earnings and sales.
Bonso reported earnings of 39 cents a share on sales of $74.7 million during fiscal 2004. It reported a loss of 29 cents a share on sales of $46.3 million for the previous year. The company also said that even though its stock price has risen significantly during the past year, Bonso believes that its shares are still undervalued. Shares of Bonso Electronics traded up $3.69, or 69.6%, to $8.99.
Secure Computing (SCUR) rose after it received an unsolicited $297 million offer from CyberGuard (CGFW). The all-stock deal represents a 22% premium over Friday's closing price of $6.37. CyberGuard said the merger would result in cost savings of about $14 million annually. Shares of Secure Computing traded up 64 cents, or 10.1%, to $7.01.NCR's (NCR) shares vaulted after the computer systems company raised earnings expectations for the second quarter. Strong cost controls and an unexpected sales surge led it to raise second-quarter operating income to 35 cents a share on sales of about $1.44 billion. Analysts polled by Thomson First Call had expected the company to report earnings of 18 cents a share on sales of $1.4 billion. Shares of NCR traded up $4.79, or 10.2%, to $51.81. WorldGate Communications (WGAT) rose after it received a $5 million order from Motorola Broadband for the Ojo Personal Video Phone. WorldGate's Ojo works with broadband cable and DSL Internet connections. Worldgate expects its first shipment to Motorola to occur during the fall. Shares of WorldGate Communications traded up 13 cents, or 6.3%, to $2.21. Shares of several chip-equipment companies took it on the chin Monday after
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