This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tuesday's Tech Winners & Losers

Shares of Sanmina-SCI (SANM - Get Report) were among technology's losers Tuesday, slumping 15% after the electronics-manufacturing services company cut its third-quarter earnings and revenue projections.

For the period ended July 1, the company now sees adjusted earnings of 6 cents to 7 cents a share, down from an earlier forecast of 8 cents to 10 cents a share. The company projects revenue of $2.71 billion, at the low end of its previous guidance of $2.7 billion to $2.8 billion. Analysts polled by Thomson First Call project earnings of 9 cents a share on revenue of $2.75 billion. Sanmina blamed the shortfall on a less-favorable product mix, lower-than-expected profitability in its computing business and slower-than-anticipated improvement in its enclosure business.

"While we are disappointed that our financial results for the fiscal third quarter fell short of our expectations, we believe that we have taken the steps necessary to improve on our execution," Sanmina said. Shares were trading down 63 cents to $3.64.

Network Appliance (NTAP - Get Report) shares rose 2% after the maker of networking gear backed its first-quarter guidance. For the three months ending July 31, the company continues to forecast earnings of 23 cents to 24 cents a share, excluding stock-based compensation costs and amortization of intangible assets. Network Appliance sees sequential revenue growth of 2% to 4%. Analysts project earnings of 24 cents a share and revenue of $615.6 million, or sequential revenue growth of about 3%. Shares were trading up 57 cents to $27.66.

Shares of China TechFaith (CNTF - Get Report) plunged 24% after the handset-software company slashed its second-quarter earnings and revenue projections. The company expects to post earnings of $4 million, down substantially from its previous view of $8.5 million. The company now projects revenue of $22.5 million, below its earlier forecast of $24 million. Analysts project earnings of $8.5 million, or 19 cents a share, on revenue of $24.1 million.

"While we expected the transition period in our business would be confined to the first quarter, it extended into the second quarter," China TechFaith said. "We are now adding three to four months onto our internal forecasts to reflect the lengthier approval and testing process required by the international carriers for Smartphone and the required quality-testing process of the new international customers for the Handset Design projects." Shares were trading at $9.74, down $2.88.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
STEC $0.00 0.00%
CNTF $3.83 0.00%
CSCO $26.21 0.00%
DGII $10.28 0.00%
MSFT $49.94 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs