Thursday's Tech Winners & Losers
Shares of Infosonics (IFON) were among the biggest winners in technology Thursday, rising 17% after the wireless handset seller renewed a distribution agreement with Samsung Electronics.
The agreement, which runs through Dec. 31 of this year, calls for Infosonics to distribute Samsung devices in Argentina, Paraguay and Uruguay. Shares of Infosonics recently were up 84 cents to $5.84 on volume of 6.7 million shares -- more than 12 times the average daily volume of 540,000 shares.
Shares of Microvision (MVIS) jumped 18% after the company said it plans to demonstrate an ultra-thin color projection display for mobile devices. The company said the display could be embedded directly into mobile phones or be used as a stand-alone accessory. The product will be unveiled at the Consumer Electronics Show in Las Vegas next week. Shares of Microvision were up 58 cents to $3.65.
Witness Systems (WITS) shares jumped 13% after the software maker projected revenue above Wall Street's forecast. For the recently ended fourth quarter, the company estimated revenue of $63 million. Adjusted revenue, which excludes hardware sales, is expected to total $62 million. Analysts polled by Thomson First Call had an average forecast for revenue of $58.2 million.For 2007, Witness Systems sees adjusted revenue of $250 million to $255 million. Wall Street expects revenue of $246.8 million. Shares were trading up $2.32 to $19.83.
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