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.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV