Friday's Tech Winners & Losers
"We believe that we are offering compelling value to Bel Fuse's shareholders," Technitrol said. "And we are excited about the opportunities that the merged company will offer Technitrol's shareholders, customers and employees." Technitrol said that it has made several attempts over the past three months to buy Bell Fuse, but Bell Fuse has rebuffed the offers each time. Bell Fuse, according to Technitrol, said that it would "rather remain independent." Shares of Bell Fuse were recently trading up $6.71, to $39.95.
Synnex (SNX) jumped 12% after the information technology supply-chain services company posted better-than-expected fiscal first-quarter earnings and forecast second-quarter earnings ahead of expectations. For the quarter ended Feb. 28, the company earned $13.9 million, or 43 cents a share, on revenue of $1.59 billion. Analysts polled by Thomson First Call expected earnings of 40 cents a share on revenue of $1.61 billion. During the year-earlier quarter, the company earned $10.7 million, or 34 cents a share, on revenue of $1.5 billion.
Looking ahead, Synnex sees second-quarter earnings of 43 cents to 45 cents a share on revenue of $1.6 billion to $1.65 billion. Analysts project earnings of 41 cents a share on revenue of $1.62 billion. Shares were trading up $2.29, to $22.03.
Vonage (VG) sank 6% after the telco was slapped with an injunction Friday. The federal court ruling, which comes two weeks after a jury found Vonage had infringed on three Verizon (VZ) patents, bars Vonage from using some of the technologies involved with its voice-over-the-Internet service. Vonage pledged to appeal. Shares were trading down 25 cents, to $3.80.Other technology movers included CMGI (CMGI), down 1 cent to $2.17; Microsoft (MSFT), down 19 cents to $28.08; Sun Microsystems (SUNW), down 3 cents to $6.28; Cisco Systems (CSCO), down 1 cent to $26.38; Komag (KOMG), up $1.05 to $33.85; Oracle (ORCL), up 7 cents to $18.56; and Intel (INTC), up 9 cents to $19.25.
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