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) 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.
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 Plus 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