Friday's Tech Winners & Losers
Shares of Saifun Semiconductors (SFUN) were among technology's losers Friday, tumbled 27% after the company said that a big customer plans to scale back its nitride read-only memory business.
Saifun does not expect to receive any license or services fee from the customer, Qimonda (QI), after the fourth quarter. Qimonda, which is a unit of Infineon (IFX), had been a significant customer of Saifun's IP and design services.
Saifun said it will license NROM technology to Qimonda on a limited basis, resulting in only limited royalties. Although Saifun doesn't expect Qimonda's move to hurt it during the third quarter, Saifun does expect an impact beginning in the fourth quarter. Shares were trading down $7.76 to $21.32.
Shares of MSC.Software (MSCS) plunged 14% after the software company projected third-quarter revenue well below Wall Street's forecast. The company estimated revenue of $58 million to $60 million and said it may record a "small" loss for the period. Analysts polled by Thomson First Call project a profit of 17 cents a share on revenue of $74.1 million. During the year-earlier period, the company reported revenue of $75.6 million."We believe that the third quarter financial results reflect the challenges associated with the transition of selling enterprise simulation solutions," MSC.Software said. "These challenges result in delayed purchase decisions on the part of our major customers, longer approval processes within their organizations and the lengthening of sales cycles." Shares recently were down $2.15 to $13.55.
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