Tech Stocks in Motion
Shares of DayStar Technologies (DSTI) rose 20% after the company said that China-based Micro Energy Group signed a purchase agreement for DayStar's TerraFoil-SP solar cells. The agreement calls for DayStar to deliver up to 500 kilowatts of TerraFoil cells to Micro Energy. Monthly deliveries begin later in 2005, DayStar said, with escalating volumes being added through the end of 2006. Prices will be based on a variable market-competitive pricing mechanism; deliveries will be based on DayStar's ramp-up of its production capacity. TerraFoil-SP solar cells are used in specialty consumer electronic products and smaller power modules. Shares were trading up $2.56 to $15.40.
Komag (KOMG) rose 5% after the company lifted its second-quarter sales forecast. The disk-drive component maker now expects sales of about $172 million, up from previous guidance of $161 million to $168 million. Net margin is now expected to be around 16%, up slightly from previous guidance of 15%. Analysts are expecting earnings of 77 cents a share on sales of $164.6 million. Komag said that strong shipments to its disk drive customers led to the upward revision. Shares were trading up $1.63 to $32.87.
Shares of Alliance Semiconductor (ALSC) moved higher Monday after the company announced the termination of its chief financial officer. Alliance fired Jeff Parsons after he "admitted to conduct that the company believes violated his contractual and other obligations to the company regarding the disclosure of confidential information to a third party," the company said. Until a permanent replacement is found, N. Damodar Reddy, the company's chief executive, will serve as interim CFO. Shares were trading up 14 cents to $3.
Other technology movers included Sirius Satellite Radio (SIRI), up 19 cents to $7.17; Microsoft (MSFT), up 20 cents to $25.29; Intel (INTC), up 14 cents to $27.42; Cisco Systems (CSCO), up 6 cents to $19.37; Sun Microsystems (SUNW), up 2 cents to $3.65; Oracle (ORCL), up 9 cents to $13.65; Applied Materials (AMAT), up 42 cents to $17.08; and Lucent Technologies (LU), up 3 cents to $3.01.
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