Tech Stocks in Motion
Shares of Viisage (VISG) were among technology's winners Wednesday, rising 11% after the identity solutions company said it has paired up with Motorola (MOT) to provide finger print and face recognition solutions in an effort to tackle identity issues for the criminal identification market.
The first customer to deploy the companies' joint solution is the sheriff's department in Harris County, Texas. "Viisage's face recognition technology stands out as the leading market solution for face recognition on mug-shot databases," Motorola said. "We have already begun work together in Harris County and have witnessed the benefits the joint solution is bringing to our customer, both in terms of power of the solution and time to market." Shares of Viisage were recently trading up 47 cents to $4.73.
Baidu.com (BIDU) fell 20% after analysts at Goldman Sachs and Piper Jaffray said the stock is overvalued. Goldman Sachs started the stock with an underperform rating and assigned a $27 price tag to the stock. Goldman said that even under the most optimistic scenarios, the stock would be worth about $45. Piper Jaffray, meanwhile, initiated coverage of the stock with an underperform rating, saying the company's valuation is unsustainable. The firm gave the stock an initial price target of $45 a share. Shares of Baidu.com were recently trading down $22.83 to $90.76.
Shares of Identix (IDNX) rose 1% after the company won a $1.8 million contract to provide its TouchPrint enhanced definition 3800 live scan systems to the Texas Department of Public Safety. The contract is separate from the statewide electronic fingerprinting services contract that the company signed last week with the agency. The fingerprinting contract has a potential value of up to $2 million to $3 million. Shares were trading up 5 cents to $4.97.WPCS International (WPCS) fell 13% after the company posted first-quarter results. The wireless engineering services company reported earnings of $315,000, or 8 cents a share, on sales of $12.2 million. A year ago the company posted earnings of $76,000, or 4 cents a share, on sales of $7.3 million. The company said that it has a backlog of $21 million, which it expects to recognize over the next 8 months. Shares were trading down $1.13 to $7.56.
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