Tech Stocks in Motion
Updated from 1:16 p.m. EST
Shares of Nam Tai Electronics (NTE) were among technology's winners Monday, rising 6.1% after the company posted fourth-quarter earnings and sales that were above expectations.
The consumer-electronics company posted operating income of 24 cents a share on sales of $152.8 million. Analysts surveyed by Thomson First Call were expecting earnings of 22 cents a share on sales of $131.6 million. The company had forecast earnings of 21 cents to 23 cents a share on sales of $130 million to $135 million. Component sub-assemblies and flexible printed circuit board sub-assemblies drove sales gains. Looking ahead, Nam Tai upped its sales growth expectations to 25% a year for the next five years, up from 22% a year. Shares traded up $1.28 to $22.12.
Sohu.com (SOHU) fell 11.4% after the Internet portal company posted fourth-quarter earnings and sales that matched expectations but warned that first-quarter results would fall short of Wall Street forecasts. The company earned $6.5 million, or 17 cents a share, on sales of $24.1 million. A year ago the company earned $11.6 million, or 28 cents a share, on sales of $24.6 million. Fourth-quarter earnings were hurt by lower wireless service business. Looking ahead, Sohu.com forecast first-quarter earnings of 14 cents to 16 cents a share on sales of $22.5 million to $23.5 million, which is below the 18 cents a share on sales of $24.9 million that analysts had been expecting. Shares traded down $1.96 to $15.26.Shares of Diodes (DIOD) rose 7.6% after the chipmaker posted fourth-quarter earnings that beat expectations. The company earned $7.3 million, or 47 cents a share, on sales of $47.9 million. Analysts were expecting earnings of 45 cents a share on sales of $47.9 million. A year ago Diodes earned $3.4 million, or 23 cents a share, on sales of $39.2 million. Looking ahead, Diodes said it expects first-quarter sales and margins to be comparable to fourth-quarter results. Gross margin came in at 33.9% during the fourth quarter. Analysts are expecting first-quarter sales of $47.5 million. Shares traded up $1.74 to $24.67.
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