Friday's Tech Winners & Losers
Shares of CalAmp (CAMP) tumbled 9% after the wireless-equipment provider posted disappointing third-quarter results. For the quarter ended Nov. 30, the company earned $896,000, or 4 cents a share, on revenue of $61.1 million. Analysts expected earnings of 6 cents a share on revenue of $61.1 million. A year earlier, CalAmp earned $5.4 million, or 23 cents a share, on revenue of $64.5 million.
CalAmp projected fourth-quarter earnings of 3 cents to 7 cents a share, with revenue of $54 million to $60 million. Analysts project earnings of 6 cents a share and revenue of $60.4 million. Shares were trading at $7.33, down 74 cents.
Napster (NAPS) rose 6% after the company said that it would become the exclusive music subscription provider for Time Warner's (TWX) America Online. Napster will replace AOL's current offering, AOL Music Now. AOL will also promote the Napster brand within its free music site. The service change is expected to be complete within the next 60 days. Shares of Napster were adding 22 cents to $4.04.
Shares of AsiaInfo (ASIA) climbed 10% after the telecom software provider said it recently signed a contract with China Unicom (CHU) to develop a mobile email system. Financial details weren't disclosed. Shares of AsiaInfo were up 82 cents to $8.57.Other technology movers included Sirius Satellite Radio (SIRI), up 16 cents to $4.06; Level 3 Communications (LVLT), up 26 cents to $6.74; Microsoft (MSFT), up 16 cents to $30.86; Intel (INTC), down 23 cents to $21.69; Sun Microsystems (SUNW), down 9 cents to $6.05; Apple (AAPL), down $2.02 to $93.78; and Cisco Systems (CSCO), down 11 cents to $28.58.
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