This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wednesday's Tech Winners & Losers

Shares of Novell (NOVL) were among technology's losers Wednesday, falling 6% after the business-software company posted mixed preliminary fourth-quarter results and gave a lower-than-expected revenue forecast for fiscal 2007.

The company, which won't issue final results until it completes an investigation into its historical stock-option practices, said it earned $23.7 million, or 6 cents a share, for the quarter ended Oct. 31. Excluding certain items, the company earned $20 million, or 5 cents a share, a penny above Thomson First Call's average analyst estimate. Novell reported revenue of $244.9 million, below Wall Street's forecast of $251.4 million. In the year-earlier period, Novel recorded adjusted earnings of $32.2 million, or 7 cents a share, on revenue of $287.6 million.

Looking ahead, Novell forecast fiscal 2007 revenue of $945 million to $975 million, below analysts' expectation of $1 billion. The company predicts adjusted operating income between break-even and $10 million, excluding stock-based compensation costs. Shares were trading down 39 cents to $5.94.

Yahoo! (YHOO - Get Report) shares slid 2% following news that the Internet portal is shuffling its management ranks. Chief Financial Officer Susan Decker will head the company's advertising and publishing segment. In turn, Yahoo! plans to hire a new financial chief. In addition, Chief Operating Officer Dan Rosensweig and media group chief Lloyd Braun will depart. Shares of Yahoo! were down 50 cents to $26.93.

Docucorp International (DOCC) soared 30% after the software company agreed to be acquired by privately held Skywire Software for $127 million in cash. Skywire will pay $10 a share, a 33% premium over Docucorp's closing price of $7.50 Tuesday. The deal is expected to close during the first quarter of 2007. Shares of Docucorp were adding $2.27 to $9.77.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
IDCC $49.78 0.00%
YHOO $44.45 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs