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

Thursday's Tech Winners & Losers

Shares of Cree (CREE - Get Report) were among technology's losers Thursday, tumbling 12% after the maker of light-emitting diodes lowered its second-quarter forecast.

For the quarter ending Dec. 24, the company now sees earnings of 12 cents to 14 cents a share, including a gain of nine cents a share from the sale of securities. The company projects revenue of $90 million to $92 million. Previously, Cree forecast earnings of 14 cents to 17 cents a share, excluding the amortization of acquisition-related intangibles, on revenue of $105 million to $109 million. Analysts polled by Thomson First Call project earnings of 16 cents a share and revenue of $107.2 million.

Cree blamed the revenue shortfall on lower-than-expected orders for LED chip products. "The LED chip market remains challenging, particularly for our mid-brightness products in mobile applications," the company said. Shares were trading down $2.43 to $18.68.

WJ Communications (WJCI) tumbled 19% after the maker of radio-frequency semiconductor products cut its fourth-quarter revenue forecast. The company now sees revenue of $10.8 million to $11.3 million, down from a prior projection of $12 million to $12.5 million. Analysts, on average, expect revenue of $12.4 million. For all of 2006, the company anticipates revenue of $48.3 million to $48.8 million, below its previous guidance of $49.5 million to $50 million. Wall Street projects revenue of $49.9 million.

"We are experiencing a slowdown in sales through our distribution channel beyond the anticipated softening in the Korean repeater business that we discussed during the third quarter's conference call and lower than expected results in the RFID market due to the ongoing unpredictability of its growth trends," the company said. Shares were trading down 34 cents to $1.40.
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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CNVR $34.44 -0.69%
CREE $25.52 0.00%
FCS $17.34 0.00%
ISSC $3.27 0.00%
ORCL $40.36 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs