Friday's Tech Winners & Losers
Shares of Research in Motion (RIMM) were among technology's biggest winners Friday, soaring 21% after the Blackberry device maker posted higher-than-expected second-quarter results and offered a third-quarter guidance that far exceeded forecasts.
For the period ended Sept. 2, the company posted preliminary second-quarter earnings of $140.8 million, or 74 cents a share, on revenue of $658.5 million. Analysts polled by Thomson First Call expected earnings of 71 cents a share on revenue of $644.3 million. During the year-earlier quarter, the company earned $111.1 million, or 56 cents a share, on revenue of $490.1 million.
Looking ahead, Research in Motion sees third-quarter earnings of 88 cents to 95 cents a share, with revenue of $780 million to $820 million. Analysts project earnings of 78 cents a share and revenue of $700 million. Shares recently were adding $17.87 to $103.93.
Corel (CREL) shares jumped 14% after the software company's third-quarter results and fourth-quarter guidance topped forecasts. For the quarter ended Aug. 31, the company earned $5.5 million, or 22 cents a share, reversing a year-earlier loss of $3 million, or 15 cents a share. Excluding stock-based compensation costs, Corel earned $9.2 million, or 36 cents a share, a nickel above analysts' mean estimate. Revenue rose to $41.3 million from $38.5 million. Wall Street expected revenue of $41.1 million.Corel sees fourth-quarter earnings of 40 cents to 45 cents a share, bracketing analysts' average projection of 43 cents. The company predicts revenue of $46 million to $48 million, compared with analysts' forecast of $45.2 million. Shares were trading up $1.62 to $12.97.
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