This Day On The Street
Continue to site
ADVERTISEMENT
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

Avid Technology (AVID) fell 2.7% after the company reaffirmed its first-quarter financial results. The digital-editing equipment maker expects pro forma earnings of 58 cents a share on sales of about $165 million, which is in line with analysts' expectations of 58 cents a share on sales of $165.3 million.

"We are taking this unusual step of pre-announcing an estimate of our first-quarter results in light of Pinnacle Systems' (PCLE) announcement on Wednesday of a lower-than-expected sales outlook for its quarter ended March 31, 2005," Avid said.

On Wednesday, Pinnacle warned that its third-quarter sales would be $64 million to $66 million, down from previous guidance of $70 million to $73 million, which excludes the Team Sports unit that it sold in February. Shares of Avid traded down $1.38 to $49.22.

Shares of Magal Security Systems (MAGS - Get Report) fell 4.1% after the company announced the sale of 1.7 million shares of stock. The stock was sold to a group of affiliated investors and to a group of unaffiliated investors at prices of $9.92 and $9.50 a share, respectively. The direct equity placement is expected to result in gross proceeds of about $16.3 million. Shares traded down 41 cents to $9.51.

Other technology movers included Microsoft (MSFT), down 38 cents to $24.46; Intel (INTC - Get Report), down 37 cents to $22.12; Cisco (CSCO), down 61 cents to $17.20; Sun Microsystems (SUNW), down 30 cents to $3.66; Applied Materials (AMAT), down 76 cents to $14.50; Apple Computer (AAPL), down $1.91 to $35.35; Oracle (ORCL), down 39 cents to $11.70; and Lucent Technologies (LU), down 11 cents to $2.40.

2 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
WSTM $0.32 0.00%
AVID $16.11 -0.25%
EXTR $2.58 1.18%
INTC $32.50 1.31%
IBM $170.73 0.56%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs