Tuesday's Tech Winners & Losers
Shares of Mindspeed Technologies (MSPD) rose 7% after the network-equipment concern posted in-line results and gave a revenue forecast that pleased investors. The company reported a first-quarter loss of $11.3 million, or 10 cents a share, on revenue of $30.2 million. Excluding items, the loss was $6.3 million, or 6 cents a share. Analysts expected a loss of 6 cents a share and revenue of $30.2 million. During the year-earlier period, the company posted a loss of $5.5 million, or 5 cents a share, on revenue of $33.2 million.
For the quarter ending in March, Mindspeed projects sequential revenue growth of 7% to 13%, which implies revenue of $32.3 million to $34.1 million. Analysts project revenue of $32.8 million. Shares were trading up 13 cents to $1.98.
Texas Instruments (TXN) rose 4% after the chipmaker posted better-than-expected fourth-quarter results. The company earned $668 million, or 45 cents a share, on revenue of $3.46 billion. The results included a tax benefit of 5 cents a share. Analysts expected earnings of 38 cents a share and revenue of $3.43 billion. During the year-earlier quarter, the company earned $655 million, or 40 cents a share, on revenue of $3.32 billion.
Looking ahead, Texas Instruments forecast first-quarter earnings of 28 cents to 34 cents a share. The company sees revenue of $3.01 billion to $3.28 billion. Analysts project earnings of 35 cents a share and revenue of $3.3 billion. Shares were trading up $1.21 to $29.80.Other technology movers included Cisco Systems (CSCO), down 13 cents to $26.40; Apple (AAPL), up 11 cents to $86.90; Intel (INTC), up 5 cents to $20.84; Sirius Satellite Radio (SIRI), up 10 cents to $3.95; Microsoft (MSFT), up 9 cents to $30.81; Sun Microsystems (SUNW), unchanged at $5.75; Level 3 Communications (LVLT), up 2 cents to $5.95; Applied Materials (AMAT), down 1 cent to $17.95; and Oracle (ORCL), up 21 cents to $17.21.
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