Tech Stocks in Motion
Shares of Wireless Facilities (WFII) were among technology's losers Monday, dropping 19% after the wireless infrastructure company posted disappointing third-quarter sales and warned that fourth-quarter results would be below expectations.
The company earned $5.8 million, or 8 cents a share, on sales of $108.9 million. Analysts polled by Thomson First Call expected earnings of 8 cents a share and sales of $117.7 million. A year ago, the company reported a loss of $14.9 million, or 22 cents a share, on sales of $95.8 million.
For the fourth quarter, Wireless Facilities projects earnings of 5 cents to 6 cents a share and sales that are flat with the third-quarter sales of $108.9 million. Analysts predicted earnings of 10 cents a share and sales of $134.8 million. The company blamed the shortfall on issues in its Latin America operations and on delays and increased cost estimates in its domestic deployment business. The Latin America issues are expected to cut fourth-quarter sales by about $15 million from earlier forecasts. Shares were trading down $1.28 to $5.54.
Shares of Geac Computer (GEAC) soared 23% after the company agreed to be acquired by private equity firm Golden Gate Capital for $1 billion, or $11.10 a share, in cash. The price represents a 27% premium to Geac's Friday closing price of $8.77. The deal is expected to close during the first quarter of 2006. "The technology businesses we acquire are carefully selected based on their growth potential and ability to deliver vertically specific enterprise software offerings and deep market expertise to their customers," Golden Gate Capital said in a statement. "Golden Gate Capital views Geac as a natural addition to this successful strategy." Geac shares recently were up $1.99 to $10.76.Multi-Fineline Electronix (MFLX) climbed 19% after the company posted fourth-quarter results that beat forecasts and issued a better-than-expected first-quarter guidance. The company, a provider of assembly systems used by the electronics industry, earned $11 million, or 44 cents a share, on sales of $110.9 million. Analysts expected earnings of 39 cents a share on sales of $100.5 million. Year-earlier earnings were $9.1 million, or 37 cents a share, on sales of $71.6 million.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV