Thursday's Tech Winners & Losers
Shares of Ikanos Communications (IKAN) were among technology's losers Thursday, plunging 33% after the maker of broadband-network-equipment chips warned that its third- and fourth-quarter revenue will miss expectations.
The company estimates third-quarter revenue of $36 million to $37 million, down from an earlier view of $40 million to $43 million. Analysts project revenue of $42 million. For the fourth quarter, the company sees revenue of $24 million to $26 million, substantially below the $43.3 million that analysts project.
"While we had orders for our fourth-generation and newly released fifth-generation chipsets in Q3, our shipments of these solutions were limited due to product delays and manufacturing constraints," Ikanos said. "Looking to our fourth quarter, we believe that revenue will be affected due to general weakness in the overall communications sector and some deployment delays." Shares were trading down $3.66 to $7.28.
Intermec (IN) also slashed its revenue forecast, sending shares down 14%. The company expects to post third-quarter revenue of $192 million to $196 million, compared with its earlier forecast for revenue of $230 million to $240 million. Analysts polled by Thomson First Call project revenue of $237.2 million."The company's revised guidance reflects an estimated decrease of its systems and solutions revenues of about 20% and a decrease of service revenue of about 5% over the comparable prior-year quarter," Intermec said. Shares were trading down $3.69 to $23.62.
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 Plus 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