Tech Stocks in Motion
Updated from 12:25 p.m.
Shares of Sonic Solutions (SNIC) were among technology's losers Wednesday, falling 16.2% after the company warned that fourth-quarter numbers would fall below forecasts.
Excluding items, the company posted earnings of $4.9 million, or 18 cents a share, on sales of $20.6 million. Analysts polled by Thomson First Call were expecting earnings of 16 cents a share on sales of $21.1 million. Looking ahead, Sonic Solutions forecast fourth-quarter earnings of 25 cents to 27 cents a share on sales of $35 million to $38 million. Analysts had been expecting earnings of 28 cents a share on sales of $39.3 million. For 2006, Sonic expects GAAP earnings of $1.20 to $1.30 a share on sales of $155 million to $165 million. Analysts are expecting earnings of $1.36 a share on sales of $172.5 million. Shares traded down $2.93 to $15.19.
Amkor Technology (AMKR) fell 18.6% after the company posted a fourth-quarter loss that was wider than expected and warned that first-quarter results would fall short of expectations. The semiconductor assembly and test services company posted a loss of $36.1 million, or 21 cents a share, on sales of $453.2 million. Analysts were expecting a loss of 19 cents a share on sales of $455.5 million.Looking ahead, Amkor forecast a first-quarter loss of 34 cents to 40 cents a share on an 8% to 12% sequential sales decline, or sales of $398.8 million to $416.9 million. Analysts had been expecting a smaller loss of 23 cents a share on sales of $438.8 million. "Our customers remain cautious about end-market demand and are exercising tight control over inventory. The high degree of uncertainty in the semiconductor sector is reflected by continued weakness in our customers' forecasts going into what is typically a seasonally down first quarter," Amkor said. Shares traded down 90 cents to $3.94.
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