This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tuesday's Tech Winners & Losers

Updated from 11:47 a.m.

Chipmakers grabbed the tech sector's center stage Tuesday, as several companies, including Texas Instruments (TXN), moved after updating their financial guidance.

Diodes (DIOD) rose 5.4% after the chipmaker lifted its second-quarter revenue guidance. The company now sees sequential revenue growth of 3% to 5%, up from an earlier view of 2% to 5%.

The new guidance represents year-over-year revenue growth of 14% to 17%. Diodes posted revenue of $82.7 million during last year's second quarter, which implies revenue of $94.3 million to $96.8 million for this year's second quarter. Analysts polled by Thomson Financial project revenue of $95.2 million. Shares closed up $1.94 to $37.92.

Diodes, however, bucked the sector's broader trend. The Nasdaq 100 was trading down about 11 points to about 1891, and several other chipmakers followed suit.

Broadcom (BRCM) traded actively after the chipmaker agreed to acquire privately held GPS technology company Global Locate for about $146 million in cash.

"With the acquisition of Global Locate, Broadcom will be the only semiconductor supplier in the world with top-tier customers in Bluetooth, Wi-Fi, FM radio and GPS, four of the key wireless technologies now being added to next generation mobile phones," Broadcom said. If Global Locate reaches certain performance goals, former shareholders will receive up to $80 million in additional cash. Shares of Broadcom closed down 64 cents, or 2.1%, to $30.10.

Meanwhile, Texas Instruments fell 2.1% after the chipmaker narrowed its second-quarter guidance. The company now sees earnings of 40 cents to 44 cents a share on revenue of $3.36 billion to $3.51 billion. Previously, the company said that it would earn 39 cents to 45 cents a share on revenue of $3.32 billion to $3.6 billion. Analysts project earnings of 42 cents a share on revenue of $3.46 billion. Shares closed down 75 cents to $35.04.

Richardson Electronics (RELL) fell 1.6% after the company said its chief financial officer David DeNeve resigned to pursue other interests. DeNeve's last day on the job will be June 22. In the meantime, Dan Fujii will serve as interim CFO until a full-time replacement is found. Shares were down 15 cents to $9.20.

Finally, Focus Enhancement (FCSE) slumped 10.4% after the communications company cut its 2007 revenue guidance. The company now sees revenue of $38 million to $40 million, down from an earlier forecast of $42 million to $44 million. Analysts project revenue of $42.3 million. Shares closed down 12 cents to $1.03.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs