This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tech Stocks in Motion

Shares of Workstream (WSTM) were among technology's losers Friday, falling 52.4% after the company posted third-quarter results that were well below Wall Street expectations.

The software provider posted a loss of $3.6 million, or 8 cents a share, on sales of $6.9 million. Analysts polled by Thomson First Call were expecting a profit of 2 cents a share on sales of $9.6 million.

A year ago, the company posted a loss of $1.8 million, or 7 cents a share, on sales of $4.2 million. Workstream said that an improving unemployment environment hurt its outplacement services business. Shares traded down $2.09 to $1.90.

Extreme Networks (EXTR - Get Report) fell 11.2% after the company posted third-quarter results that fell below expectations and warned that fourth-quarter sales would fall below expectations.

Excluding items, the networking gearmaker earned $743,000, or 1 cent a share, on sales of $91.9 million. Analysts were expecting earnings of 5 cents a share on sales of $102.5 million.

Results were hurt by continued weakness in the company's Japanese business and longer-than-expected sales cycles across its businesses. Looking ahead, Extreme forecast fourth-quarter sales of $93 million to $98 million, which is below the $106 million that analysts had been expecting. Shares traded down 56 cents to $4.44.

Shares of Merix (MERX) fell 23.2% after the maker of printed circuit boards agreed to acquire Hong Kong-based Eastern Pacific Circuits for about $120 million in cash plus earn-out consideration of up to $8 million, which is tied to 2005 adjusted earnings before interest, taxes, depreciation and amortization.

The transaction, which is being financed with a combination of cash and debt, is expected to close in June. In response to the acquisition, Credit Suisse First Boston downgraded Merix to underperform from neutral and lowered its price target on the company. CSFB cut its rating on the stock because of the dilutive nature of the acquisition and because of risks associated with the acquisition. Shares traded down $2.55 to $8.40.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
WSTM $0.27 -6.90%
AVID $8.42 0.00%
EXTR $3.58 0.85%
INTC $32.12 -1.20%
IBM $151.92 -0.24%


Chart of I:DJI
DOW 17,045.81 -4.94 -0.03%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,823.7820 +12.9940 0.27%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs