Wednesday's Tech Winners & Losers
Shares of Lawson Software (LWSN) rose 3% after the software maker posted better-than-expected first-quarter results and forecast in-line second-quarter results. For the period ended Aug. 31, the company reported adjusted earnings of $4.7 million, or 2 cents a share, on revenue of $166.4 million. Analysts polled by Thomson First Call expected earnings of a penny a share and revenue of $163.2 million. A year earlier, Lawson recorded adjusted earnings of $8.1 million, or 8 cents a share, on revenue of $87.9 million.
Looking ahead, Lawson sees adjusted second-quarter earnings of 3 cents to 5 cents a share, with revenue of $175 million to $183 million. Analysts project earnings of 3 cents a share on revenue of $178.3 million. Shares were trading up 20 cents to $7.48.
Sirius Satellite Radio (SIRI) fell 3% after the company said it added more than 441,000 new subscribers during the third quarter. The satellite radio company ended the quarter with nearly 5.12 million subscribers, a jump from the 2.17 million subscribers that it reported a year ago. Sirius continues to see 6.3 million subscribers by the end of the year. Shares were trading down 5 cents to $4.02.
Rival XM Satellite (XMSR) radio, meanwhile, said it added 285,000 net new users in the third quarter, giving it a total of 7.18 million subscribers. The company also said George Haywood stepped down from the board Tuesday for personal reasons. Haywood, a former private equity investor, is the second director to leave XM's board this year. Shares recently were down 64 cents, or 5%, to $11.94.Shares of Cbeyond (CBEY) rose 5% after the voice, mobile and broadband services company priced a 4.27-million-share stock offering at $26.75 a share. Selling shareholders also granted underwriters an option to buy an additional 640,066 shares to cover over-allotments. Cbeyond won't receive any proceeds from the offering. Shares were up $1.31 to $28.26. Other technology movers included Microsoft (MSFT), up 28 cents to $27.65; Intel (INTC), up 5 cents to $20.62; JDSU (JDSU), down 1 cent to $2.18; Sun Microsystems (SUNW), down 4 cents to $4.95; Nvidia (NVDA), up $1.14 to $29.44; Oracle (ORCL), down 7 cents to $17.83; Cisco Systems (CSCO), down 6 cents to $23.35; Apple Computer (AAPL), down 62 cents to $73.46; and Marvell Technology Group (MRVL), down 30 cents to $16.50.
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