Tech Stocks in Motion
Despite previewing better-than-expected fourth-quarter sales, shares of Mentor Graphics (MENT) fell modestly Thursday. The software company expects fourth-quarter sales to exceed $220 million, which would be ahead of the $217.6 million in sales that analysts expect. The company also said that it expects to be profitable during the quarter. Analysts are projecting earnings of 44 cents a share.
During 2006, the company continues to see sales of $755 million, above analysts' forecast of $746.1 million. Shares were down 8 cents to $11.02.
Shares of TeleTech Holdings (TTEC) traded actively after the company forecast better-than-expected fourth-quarter sales. The outsourcing provider put its top line at roughly $300 million, topping analysts' forecast of $278.7 million. TeleTech said results were buoyed by government work related to hurricane relief efforts.
The company expects first-quarter sales will be lower than fourth-quarter results. Earnings, meanwhile, will be hurt by lower sales and by an increase in payroll taxes. Analysts are projecting first-quarter earnings of 9 cents a share and sales of $272.2 million. TeleTech shares were trading down 2 cents to $12.11.Other technology movers Thursday included Sirius Satellite Radio (SIRI), up 21 cents to $6.33; Lucent Technologies (LU), up 6 cents to $2.72; Cisco (CSCO), down 18 cents to $19.22; Apple Computer (AAPL), up $1.97 to $85.87; Conexant Systems (CNXT), down 1 cent to $3.30; Intel (INTC), up 26 cents to $26.40; Microsoft (MSFT), down 28 cents to $27.01; Oracle (ORCL), down 3 cents to $12.57; Applied Materials (AMAT), up 4 cents to $20.69; JDSU (JDSU), down 6 cents to $2.87; and Sun Microsystems (SUNW), down 2 cents to $4.50.
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