Wednesday's Tech Winners & Losers
Shares of Benchmark Electronics (BHE) rose 2% after the contract electronics manufacturer said that second-quarter results would exceed expectations. The company now sees earnings topping its previous guidance of 36 cents to 39 cents a share. The company also expects to post sales above its prior forecast of $630 million to $660 million. Analysts project earnings of 38 cents a share and sales of $653.2 million. Benchmark, which didn't provide a reason for the improved outlook, plans to issue second-quarter results on July 20. Shares were trading up 65 cents to $23.08.
Shares of Syntax-Brillian (BRLC) jumped 21% after the maker of high-definition televisions said that fourth-quarter and full-year revenue would be better than expected. For the fourth quarter ended June 30, the company expects to post revenue at or above the high end of its earlier guidance of $50 million to $58 million. Gross margins, meanwhile, are now seen at or above the high end of the previous forecast of 10% to 12%. Analysts project revenue of $53 million.
For its full fiscal year, Syntax-Brillian expects revenue at or above the high end of previous guidance of $180 million to $190 million. Gross margins will be at or above the high end of previous guidance of 11% to 13%. Analysts project fiscal 2006 revenue of $186.2 million. Shares were trading at $3.32, up 58 cents.
Tut Systems (TUTS) plunged 36% after the communications-equipment maker warned that second-quarter revenue would be well below expectations. The company projects revenue of about $8.2 million. Analysts, meanwhile, had forecast revenue of $12.7 million. Tut said that a number of potential new customers extended their purchase decisions, while revenue from certain new products was hurt by production issues. Shares were trading down 83 cents to $1.48.Other technology movers included Sun Microsystems (SUNW), up 5 cents to $4.05; Microsoft (MSFT), down 36 cents to $22.74; JDSU (JDSU), up 8 cents to $2.19; Lucent Technologies (LU), up 4 cents to $2.23; Intel (INTC), down 18 cents to $18.49; Cisco Systems (CSCO), down 13 cents to $18.56; Ciena (CIEN), up 9 cents to $4.25; Apple Computer (AAPL), down 55 cents to $55.10; and Applied Materials (AMAT), down 17 cents to $15.97.
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