Tech Stocks in Motion
Electroglas (EGLS) fell 7.1% after the company warned that its fourth-quarter sales would fall below expectations. The company, which makes wafer probers used by semiconductor manufacturers, now expects sales of $11 million to $11.4 million, down from its previous guidance of $12 million to $15 million issued just four weeks ago. "We continued to experience push outs for orders already in hand and for orders not yet received but expected. We hope to have these orders ... rescheduled for early 2005," the company said. Analysts had been expecting sales of $14.7 million. Shares traded down 30 cents to $3.94.
Shares of Actuate (ACTU) rose 6.6% after the software maker raised its fourth-quarter earnings and sales targets. The company now expects earnings to exceed its previous guidance of 1 cent a share and expects sales to come in ahead of its previous guidance of $24 million to $24.5 million. Analysts had been expecting earnings of 1 cent a share on sales of $24.3 million. Fourth-quarter results will be issued on Feb. 10. Shares traded up 15 cents to $2.43.
Other technology movers included Sirius Satellite Radio (SIRI), down 15 cents to $7.49; Microsoft (MSFT), down 3 cents to $26.75; Symantec (SYMC), down $1.86 to $23.18; Intel (INTC), up 7 cents to $22.46; Cisco (CSCO), up 28 cents to $18.85; Lucent (LU), down 7 cents to $3.57; Sun Microsystems (SUNW), down 10 cents to $4.60; Oracle (ORCL), up 12 cents to $13.22; and Transmeta (TMTA), up 13 cents to $1.13.
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