Tech Stocks in Motion
Shares of Identix (IDNX) were among technology's winners Thursday, soaring 23% after the biometric technology company agreed to be acquired by identity security concern Viisage Technology (VISGD) for about $770 million in stock.
Identix shareholders will receive 0.473 shares of Viisage for each share of Identix they own. Based on Viisage's closing price of $17.69 on Wednesday, the deal is worth about $8.37 a share, representing a 45% premium over Identix's closing price of $5.78 on Wednesday. The deal is expected to close during the second quarter. Shares of Identix were recently trading up $1.32 to $7.10 while shares of Viisage were trading down $1.08 to $16.61.
Mobility Electronics (MOBE) rose 5% after the company said fourth-quarter sales will be in the middle of its previous forecast of $23 million to $24 million. Analysts polled by Thomson First Call are projecting sales of $23.6 million. "While we received some order deferrals from RadioShack (RSH), we had stronger sales than expected through other channels, which allowed us to still post solid top-line growth over the prior year," the company said. Shares were trading up 51 cents to $10.51.
Shares of Symyx Technologies (SMMX) fell 3% after the developer of research technology and software issued a 2006 forecast that fell slightly below Wall Street expectations. The company sees pro forma earnings -- which exclude acquisition-related accounting items -- of 33 cents to 38 cents a share. Excluding stock-based compensation costs, the company sees earnings of 53 cents to 58 cents a share. Analysts are projecting earnings of 59 cents a share. Symyx projects sales of $125 million to $135 million, while Wall Street's target calls for sales of $135.7 million.For the first quarter, Symyx expects earnings of 4 cents to 6 cents a share and sales of $27 million to $28 million. Excluding stock-based compensation costs, the company expects earnings of 7 cents to 9 cents a share. Analysts project earnings of 9 cents a share and sales $26.6 million. Shares were trading down 79 cents to $27.68.
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