Tuesday's Tech Winners & Losers
Motorola will pay $7 a share, representing a 25% premium to Netopia's closing price of $5.59 on Monday. The deal is expected to close early next year.
Separately, Netopia posted a fourth-quarter loss of $1.5 million, or 6 cents a share, on revenue of $31 million. Excluding stock-based compensation and amortization costs, the company earned $700,000, or 3 cents a share. Analysts polled by Thomson First Call expected earnings of 2 cents a share on revenue of $30.7 million. A year earlier, the company reported a loss of $1 million, or 4 cents a share, on revenue of $23.4 million. Shares were trading up $1.21 to $6.80. Motorola shares rose 30 cents, or 1.4%, to $21.47.
Agilent Technologies (A) fell 6% after the maker of test and measurement equipment posted fourth-quarter results that missed expectations. For the quarter ended Oct. 31, the company earned $152 million, or 36 cents a share, on revenue of $1.33 billion. Excluding items, and including the results of Verigy, the company earned $215 million, or 52 cents a share. Analysts expected a profit of 54 cents a share, before items, and revenue of $1.53 billion. During the year-earlier period, the company earned $147 million, or 29 cents a share, on revenue of $1.25 billion.Looking ahead, Agilent forecast first-quarter earnings of 36 cents to 40 cents a share and revenue of $1.25 billion to $1.29 billion. Analysts project earnings of 39 cents a share, with revenue of $1.26 billion. Shares were trading down $2.13 to $32.87.
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