Tech Stocks in Motion
Updated from 2:37 p.m. EDT
Shares of Isonics (ISON) were among technology's winners Thursday, rising 18.6% after the company announced the first sales of its NeutroTest portable explosive detection device.
The company sold the two units to a privately held engineering company in Germany. Terms of the deal were not disclosed. Isonics said the customer would use the device to search for and evaluate unexploded military ordinance and other explosives. "We are gratified to have completed the sale and delivery of these first-generation NeutroTest devices on schedule in the second calendar quarter, as previously announced," the company said. NeutroTest uses neutron technology to discover the presence of concealed explosives. Shares traded up 51 cents to $3.25.
Harmonic (HLIT) fell 6.8% after the provider of digital video and broadband optical networking systems cut its second-quarter earnings and sales estimates. The company now expects sales of $56 million to $60 million, down substantially from its previous guidance of $73 million to $76 million. Analysts polled by Thomson First Call had been expecting sales of $75.3 million. Harmonic blamed the shortfall on slower orders of its digital headend systems in May and June from cable operators. As a result of the sales weakness, the company now expects to post a loss during the second quarter. Previously, the company said that it would post a pro forma profit of 5 cents to 7 cents a share. Analysts had been expecting earnings of 6 cents a share. Shares traded down 35 cents to $4.83.Shares of JMAR Technologies (JMAR) rose 8.9% after the San Diego-based company received a two-year extension valued at $7.6 million. The extension, awarded by the Naval Air Warfare Center, adds to the company's existing three-year $10 million contract, which calls for the development of X-ray masks for next-generation lithography and production of zone plate optics for X-ray microscopes and X-ray nano probes. The Air Warfare Center also released $3.6 million in funding for continued work under the contract. Shares traded up 11 cents to $1.35.
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