Tuesday's Tech Winners & Losers
Shares of Alcatel-Lucent (ALU) were among technology's losers Tuesday, sliding 8% after the telecom-equipment maker warned that fourth-quarter revenue would be short of Wall Street's expectation.
The Paris-based company estimates revenue of 3.87 billion euros, or roughly $5.02 billion. Analysts polled by Thomson Financial project revenue of $5.33 billion. On a pro forma basis, adjusting for the Alcatel and Lucent merger, the company projects revenue of 4.42 billion euros. That's down from 5.25 billion euros a year earlier. Meanwhile, the company projects break-even operating results, down from a profit of 570 million euros a year ago. Shares were trading down $1.13 to $13.06.
StarTek (SRT) plunged 24% after the technology outsourcing company put fourth-quarter results well below Wall Street's forecast. The company expects to report earnings of 7 cents to 9 cents a share, with revenue of about $59 million. Analysts project a profit of 16 cents a share on revenue of $64.8 million. Shares were trading down $3.19 to $9.55.
Tellabs (TLAB) traded actively after the telecom-equipment maker posted mixed fourth-quarter results. Tellabs reported posted fourth-quarter earnings of $29 million, or 7 cents a share. Excluding items, the company earned $47 million, or 10 cents a share, a penny above analysts' mean estimate. Revenue totaled $455 million, shy of Wall Street's projection of $463.4 million. In the year-earlier period, Tellabs recorded adjusted earnings of $100 million, or 22 cents a share, on revenue of $521 million.For the first quarter, Tellabs anticipates revenue of $445 million to $455 million, below analysts' projection of $495.2 million. Shares were trading up 7 cents to $10.09.
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 + 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