This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tech Stocks in Motion

Updated from 11:52 a.m. EDT

Shares of InVision Technologies (INVN) were among the worst-performing technology stocks Monday after the company warned Wall Street that an internal investigation into improper payments by distributors in connection with foreign sales could jeopardize its impending acquisition by General Electric (GE).

Late Friday, the bomb detection company said it had informed the Department of Justice and Securities and Exchange Commission about its findings. As a result, the DOJ and SEC may commence an investigation into the matters, including, according to InVision, "possible violations of the Foreign Corrupt Practices Act."

The merger agreement between GE and InVision calls for the acquisition to close by Oct. 31, 2004. However, InVision warned that the internal investigation by the company and any related investigations by the government might not be completed by then. If the acquisition is not completed by Oct. 31, GE and InVision are both entitled to terminate the merger agreement. Shares of InVision Technologies traded down $6.39, or 12.9%, to $43.27.

Orbotech (ORBK) rose after the Israeli company reported stronger-than-expected second-quarter earnings and sales. The maker of optical inspection systems earned 26 cents a share on sales of $77.5 million. Analysts polled by Thomson First Call had expected it to earn 20 cents a share on sales of $72 million. A year ago, the company earned 4 cents a share on sales of $54.6 million. Shares of Orbotech traded up $1.20, or 7.1%, to $18.22.

Shares of Synopsys (SNPS) fell after the company cut its third-quarter earnings and sales outlook. Excluding items, the software company now expects to earn 31 cents to 34 cents a share, which is short of its previous forecast of 35 cents to 40 cents a share. Analysts had expected it to earn 37 cents a share. Sales, meanwhile, are now expected to be between $279 million and $283 million. Previously, it had expected sales of $300 million to $320 million. Analysts were looking for $310.2 million. The company attributed the weak outlook to lower-than-expected bookings during the quarter. Shares of Synopsys traded down $4.20, or 16.6%, to $21.05.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs