Today's Tech Winners and Losers
Shares of LTX (LTXX) were among technology's winners Wednesday, climbing 17% after the maker of semiconductor test products posted better-than-expected third-quarter results and issued a fourth-quarter guidance well above expectations.
For the third quarter ended April 30, the company earned $8.1 million, or 13 cents a share, on revenue of $56.3 million. Analysts polled by Thomson First Call expected earnings of 9 cents a share on revenue of $52.7 million. A year earlier, LTX posted a loss of $45.7 million, or 75 cents a share, on revenue of $25.5 million. The year-ago results included charges totaling $28.6 million, or 47 cents a share. "The current growth cycle continues to gain momentum. Customer acceptance of LTX's product strategy, together with an improving business environment, provided the fuel for our business model to deliver strong results," the company said.
Looking ahead, LTX forecast fourth-quarter earnings of 22 cents to 24 cents a share and revenue of $68 million to $70 million. Analysts project earnings of 11 cents a share on revenue of $57.1 million. Shares were trading up 97 cents to $6.78.
Hewlett-Packard (HPQ) rose 4% after the maker of computers and printers posted better-than-expected fiscal second-quarter earnings. The company earned $1.46 billion, or 51 cents a share, on revenue of $22.6 billion. Excluding items, the company earned $1.55 billion, or 54 cents a share, for the quarter ended April 30. Analysts expected earnings of 49 cents a share on revenue of $22.6 billion. During the year-earlier quarter, H-P earned $966 million, or 33 cents a share, on revenue of $21.6 billion. Excluding items, the company would have earned $1.1 billion, or 37 cents a share, during the year-earlier quarter.For the third quarter, H-P projects adjusted earnings of 45 cents to 48 cents a share, above analysts' mean estimate of 43 cents. The company predicts revenue of $21.75 billion, compared with Wall Street's target of $21.76 billion. Shares were up $1.21 to $32.32.
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