Updated from 2:30 p.m. EST
Shares of Mamma.com (MAMA) were among technology's winners Thursday, soaring 27% after the Internet search engine company said it swung to a fourth-quarter profit.
The company reported earnings of $420,175, or 3 cents a share, on revenue of $3.6 million. During the year-earlier quarter, the company posted a loss of $762,555, or 6 cents a share, on revenue of $1.6 million. "During the fourth quarter, we have significantly increased our search revenues by expanding our search network and by signing new clients thus generating our best quarterly results this year," the company said. Shares were trading up $1.20 to $5.70.
Clearwire (CLWR) slumped on its first day of trading. The Internet service provider priced its shares at $25, at the high end of its proposed range of $23 to $25 a share, raising $600 million from the 24 million-share offering. Merrill Lynch, Morgan Stanley, and JPMorgan Securities led the underwriting syndicate. After initially surging, the stock recently was down 40 cents, or 1.6%, to $24.60.Shares of Linktone (LTON - Get Report) slumped 13% after the Chinese maker of wireless entertainment products posted lower-than-expected fourth-quarter results. The company earned $403,635, or 2 cents per American depository share, on revenue of $13.5 million. Analysts polled by Thomson First Call expected earnings of 3 cents a share and revenue of $16.6 million. A year earlier, the company earned $1.5 million, or 5 cents a share, on revenue of $19.7 million. Looking ahead, Linktone forecast a first-quarter loss of 13 cents to 15 cents a share, with revenue of $14.5 million to $15.5 million. Shares were trading at $3.71, down 54 cents.