This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Wednesday's Tech Winners & Losers

Updated from 11:27 a.m. EDT

Tech stocks moved lower Wednesday as investors evaluated a host of earnings reports.

Towerstream (TWER - Get Report) plunged 32.7% after the wireless broadband access provider said it would sell 10 million shares of stock at $4 apiece. The price represents a discount of 32% to Tuesday's closing price of $5.87. "The proceeds from this offering will provide us with the capital to build out our target markets and solidify our position as a WiMAX leader," the company said. Lazard Capital Markets led the underwriting syndicate. Shares were down $1.92 to $3.95.

Elsewhere, Transaction Systems Architects (TSAI) fell 2.5% after the maker of financial software cut its 2007 earnings guidance. The company now sees earnings of $1.05 to $1.34 a share and adjusted earnings of $1.51 to $1.80 a share. Analysts polled by Thomson Financial project $1.32 a share. The company sees revenue of $428 million to $447 million. Analysts project revenue of $406.2 million. "We continue to work hard to get back to a regular schedule for our regulatory filings and financial reporting," the company said. "This process has certainly been time-consuming and expensive." Shares closed down 87 cents to $33.43.

Meanwhile, Plato Learning (TUTR) fell 6.3% after the educational software company posted disappointing second-quarter results. The company posted a loss of $5.3 million, or 22 cents a share, on revenue of $15.2 million. Analysts expected a smaller loss of 19 cents a share on revenue of $16.5 million. "While the transition to a software-as-a-service business model continues to have an unfavorable near-term effect on our revenues, the adjustments we've made to support this lower-cost business model have resulted in a reduction in our net loss in the quarter compared to the second quarter of last year," the company said. During the year-earlier quarter, the company reported a loss of $5.9 million, or 25 cents a share, on revenue of $20 million. Shares were down 28 cents to $4.15.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
OPLK $24.23 -0.12%
TWER $2.10 0.96%
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.39 -1.70%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs