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.
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