This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Tech Stocks in Motion

Shares of Blue Coat Systems (BCSI) were among technology's losers Wednesday, slumping 17% after the software company posted mixed second-quarter results and guided third-quarter sales below forecasts.

The company earned $4.2 million, or 28 cents a share, on sales of $36.7 million. Excluding items, the company earned $4.7 million, or 32 cents a share, for the second quarter ended Oct. 31. Analysts polled by Thomson First Call expected earnings of 30 cents a share and sales of $36.8 million. Last year, Blue Coat posted second-quarter earnings of $607,000, or 5 cents a share, on sales of $21.9 million. Excluding items, the company earned $1.1 million, or 9 cents a share.

Looking ahead, Blue Coat sees third-quarter earnings, excluding items, of 32 cents to 36 cents a share, which would be at or above analysts' expectation of 32 cents a share. But the company projected sequential sales growth of 4% to 7%, implying sales of $38.2 million to $39.3 million. Wall Street anticipated sales of $39.7 million. Blue Coat shares recently dropped $8.21 to $40.58.

Intellisync (SYNC - Get Report) fell 8% after the software company agreed to be bought by Nokia (NOK - Get Report) for about $430 million in cash. Nokia will pay $5.25 a share, representing a 5% discount to Intellisync's Tuesday closing price of $5.54 a share. Shares of Intellisync, a provider of wireless email messaging services, had climbed almost 120% since the beginning of August. Nokia expects to close the deal within three to four months. Intellisync recently traded down 45 cents to $5.09, while shares of Nokia fell 13 cents to $16.90.

Shares of China TechFaith (CNTF - Get Report) soared 29% after the handset software company posted sharply higher third-quarter results. The company earned $11.4 million, or 26 cents per American depository share, on sales of $23.3 million. "This was an impressive quarter for us from an operations standpoint," the company said. "We continued to leverage our relatively low operating costs while supporting a higher revenue base." During last year's third quarter, the company earned $3.7 million, or 11 cents a share, on sales of $12 million. Gross margin in the most recent period climbed to 61.1% from 57% a year ago.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!


DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs