Tech Stocks in Motion
Updated from 12:46 p.m. EST
Shares of Sirenza Microdevices (SMDI) were among technology's losers Tuesday, falling 16.5% after the company warned that fourth-quarter earnings and sales would fall below Wall Street expectations.
The maker of radio frequency components now expects adjusted earnings of 4 cents a share on sales of $15 million to $15.1 million. Previously, the company expected earnings of between 4 cents and 6 cents a share and sales of $15.7 million. Analysts polled by Thomson First Call had been expecting earnings of 5 cents a share on sales of $16.2 million. Sirenza said that sales were hurt by decreased demand and "year-end inventory balancing" at some of its OEM customers. Shares traded down 92 cents to $4.65.
I.D. Systems (IDSY) rose 9.8% after the company received a three-year, $4 million contract from the U.S. Postal Service. The contract, which has a minimum guaranteed value of $4 million, involves vehicle management at eight USPS facilities. Shares traded up $1.65 to $18.45.Shares of Faro Technologies (FARO) fell 1% after the company previewed fourth-quarter results that were slightly lower than expected. The maker of computer-aided design products posted fourth-quarter sales of $28.8 million, up from year-ago levels of $23 million, but slightly less than the $28.9 million that analysts' were expecting. Faro plans to issue full fourth-quarter results some time in early March. Analysts are expecting the company to post earnings of 27 cents a share. Shares traded down 17 cents to $29.38. JDS Uniphase (JDSU) traded actively after the company trimmed its second-quarter earnings guidance. The company now expects to post a loss of 2 cents a share, down from previous guidance that called for a loss of 1 cent a share. Sales, meanwhile, are expected to be about $180 million. Analysts had been expecting a loss of 1 cent a share on sales of $187.2 million. The quarter's results were hurt by a decline in sales from an OEM customer, which accounted for $13 million in lost sales, and by new product startup costs. Shares ended the day unchanged at $2.78 on volume of more than 51 million shares.
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