Tuesday's Tech Winners & Losers
iRobot (IRBT) shares jumped 17.7 %, adding $3.09, to $20.60 on Tuesday after the company said second-quarter revenue grew 33.5% to $34.6 million, up from $25.9 million for the same quarter one year ago. Guidance for the full year is $182 million to $192 million.
It narrowed its loss to $1.8 million, or 8 cents a share, compared with a loss in the second quarter of 2005 of $3.1 million, or 30 cents a share.
"iRobot reported another strong quarter, with sustained growth and product momentum throughout the first half of 2006," Colin Angle, co-founder and CEO of the company, said in a statement. "The increased acceptance of our robots and iRobot's ability to effectively execute on its plans are key drivers behind the company's success."
Powerwave Technologies (PWAV) plummeted 16.4 % on Tuesday after falling short of the Street's second-quarter earnings forecast. The wireless communications product company earned $12.6 million, or 10 cents a share, vs. $13 million, or 11 cents a share, a year earlier.Excluding items, Powerwave made $17.5 million, or 13 cents a share. On that basis, the company missed the Thomson First Call average by a penny. Sales grew to $232.4 million from $186.3 million, but fell short of analysts' projection of $247.2 million. Shares fell $1.30 to $6.64. eBay (EBAY) also slipped on Tuesday, falling 1.7% after an analyst cut his price target to $28 from $35 on the stock. Benjamin Schachter of UBS noted that "we believe that Ebay's multiples have come down more precipitously because of increased concern about the core marketplace business." "Until investors see declining growth in the core business stabilize, newer initiatives are not likely to have a meaningful impact on the stock," he noted Monday. UBS does and seeks to do business with the companies it covers.
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 + 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