Friday's Tech Winners & Losers
Viewpoint (VWPT) plunged 34% after the Internet marketing technology company lowered its 2006 revenue forecast. The company now sees full-year revenue of $17 million to $20 million, down from its prior guidance of $26 million to $30 million. Viewpoint blamed the shortfall on "softness in ad spending and customers' product delays."
For the third quarter, the company sees revenue of $3 million. One analyst projects revenue of $6.1 million. Viewpoint shares sank 27 cents to 75 cents.
Shares of CalAmp (CAMP) slumped 13% after the wireless-equipment provider posted weaker-than-expected second-quarter earnings and warned that third-quarter earnings fall below expectations. For the period ended Aug. 31, the company earned $1.2 million, or 5 cents a share, on revenue of $57.9 million. Analysts expected earnings of 7 cents a share on revenue of $56.3 million. During the year-earlier period, the company earned $3.7 million, or 16 cents a share, on revenue of $57.7 million.
Looking ahead, CalAmp sees third-quarter earnings of 4 cents to 8 cents a share on revenue of $59 million to $65 million. Analysts predict earnings of 11 cents a share on revenue of $61.4 million. Shares were trading down $1 to $6.94.Shares of LightPath Technologies (LPTH) zoomed 46% after the maker of optical products previewed strong first-quarter revenue growth. The company expects to post revenue of about $4.4 million for the September quarter, a 62% jump from a year earlier.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV