Tech Stocks in Motion
Shares of Applied Signal Technology (APSG) were among the best-performing technology-related stocks Friday, surging 23% after the company's fourth-quarter results easily beat Wall Street estimates.
For the quarter ended Oct. 31, the maker of digital-signal processing products earned $3.1 million, or 26 cents a share, up from $2.4 million, or 21 cents a share, a year ago. Revenue rose to $57.6 million from $39.5 million last year. Analysts polled by Thomson First Call expected earnings of 21 cents a share and revenue of $44.4 million. Following the earnings report, Applied Signal was upgraded by Caris & Co. and CE Unterberg. Shares were up $4.51 to $23.85.
Shares of Hauppage Digital (HAUP) slid after the company said it swung to a fourth-quarter loss on a 7% year-over-year decline in revenue. The maker of television parts lost $864,371, or 9 cents a share, in the quarter ended Sept. 30, compared with earnings of $119,261, or 1 cent a share, a year ago. Sales were $15.4 million in the latest quarter compared with $16.5 million a year ago. The company said its gross margin fell from 25.6% to 21.7% in the latest quarter, primarily reflecting higher sales of lower margin OEM products. Hauppage shares fell 84 cents, or 13%, to $5.56.
Tech outsourcer Affiliated Computer (ACS) rose on a report it is discussing a buyout with a group of private equity investors. Bain Capital, Texas Pacific and Blackstone reportedly are mulling a deal that would pay existing holders $62 a share, the New York Times said. The deal could still fall apart, the paper noted, citing people familiar with the matter. Word of the possible takeover comes about two months after Lockheed Martin (LMT) and two private equity allies reportedly backed away from a deal for Computer Sciences (CSC), another outsourcing giant. Affiliated Computer's shares were recently up $2.62, or 4.5%, to $60.70 a share.
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