Monday's Tech Winners & Losers
Shares of On Track Innovations (OTIV) slid 5% after the maker of smart cards posted disappointing third-quarter results. The company reported a loss of $2.4 million, or 16 cents a share, on revenue of $8 million. Excluding items, the company posted a loss of $1.7 million, or 11 cents a share. Analysts polled by Thomson First Call had an average estimate for a loss of 8 cents a share and revenue of $10 million. A year earlier, On Track reported a loss of $2.1 million, or 23 cents a share, on revenue of $12.1 million. Shares were trading at $7, down 37 cents.
Akamai Technologies (AKAM) rose 3% after the company agreed to acquire privately held Nine Systems for about $160 million. Akamai will pay about $7 million in cash and 3.1 million shares in stock to Nine Systems. The deal, projected to close by the end of the year, is expected to be accretive to Akamai's 2007 earnings. Shares were up $1.39 to $50.64.
Other technology movers included Microsoft (MSFT), up 47 cents to $29.87; Intel (INTC), up 12 cents to $22.22; Lucent Technologies (LU), up 2 cents to $2.64; Sun Microsystems (SUNW), up 6 cents to $5.53; Cisco Systems (CSCO), up 5 cents to $26.98; Level 3 Communications (LVLT), up 7 cents to $5.26; Marvell Technology (MRVL), up $1.09 to $20.14; Applied Materials (AMAT), down 6 cents to $18.06; Sirius Satellite Radio (SIRI), unchanged at $4.05; and Oracle (ORCL), up 3 cents to $19.49.
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