Tech Stocks in Motion
SS&C Technologies (SSNC) rose 21% after the company's third-quarter earnings and sales that beat expectation. The software company earned 20 cents a share on sales of $25.2 million. Analysts were expecting earnings of 19 cents a share on sales of $24.5 million. Looking ahead, it expects fourth-quarter earnings of 20 cents to 23 cents a share on sales of $25 million to $26 million. Analysts are expecting earnings of 21 cents a share on sales of $25.8 million. Shares traded up $3.74 to $21.59.
Shares of Netopia (NTPAE) fell 30.3% after the company announced that it would be delisted from the Nasdaq, effective Oct. 20. The software company had requested continued inclusion on the Nasdaq market, but the Nasdaq Listings Qualification Panel denied the company's request. What's more, because the company is not currently eligible to trade on the OTC bulletin board, Netopia expects its shares to trade on the pink sheets. Shares of Netopia traded down 91 cents to $2.09.
Other technology volume leaders included Intel (INTC), up 1 cent to $20.80; Lucent (LU), down 12 cents to $3.38; Microsoft (MSFT), down 23 cents to $28.18; Cisco (CSCO), up 5 cents to $18.70; Isonics (ISON), down $1.17 to $4.31; and Oracle (ORCL), down 11 cents to $12.31.
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