Friday's Tech Winners & Losers
Updated from 1:50 p.m. EDT
The broader technology market fell Friday as credit-market worries spread into the sector.
Nvidia (NVDA) fell 4.6% after the graphics-chip maker posted solid second-quarter results but issued third-quarter revenue guidance that disappointed investors. The company earned $172.7 million, or 43 cents a share, on revenue of $935.3 million. Excluding items, the company earned $198.1 million, or 51 cents a share. Analysts polled by Thomson Financial expected earnings of 43 cents a share on revenue of $860 million.
Looking ahead, Nvidia sees sequential third-quarter revenue rising by 5% to 7%. Analysts, though, are projecting revenue growth of 9%. Shares closed down $2.14 to $43.99.Elsewhere, CryptoLogic (CRYP) jumped 13.8% after the software company posted second-quarter results that pleased investors. The company posted adjusted operating income of $2.5 million, or 18 cents a share, on revenue of $16.2 million. Looking ahead, the company sees third-quarter operating income of $1.5 million to $2.5 million on revenue of $16 million to $17 million. Shares closed up $2.75 to $22.75. Meanwhile, shares of Symmetricom (SYMM) tumbled 24.5%, after the provider of software services posted a fiscal fourth-quarter earnings miss and warned that first-quarter results would be well below expectations. The company posted adjusted earnings of $4 million, or 9 cents a share, on revenue of $57.4 million. Analysts expected earnings of 10 cents a share. Looking ahead, Symmetricom sees first-quarter adjusted earnings of 1 cent to 6 cents a share on revenue of $48 million to $53 million. Analysts project earnings of 11 cents a share on revenue of $55.7 million. For the full year, the company sees adjusted earnings of 24 cents to 34 cents a share on revenue of $210 million to $220 million. Analysts project earnings of 51 cents a share on revenue of $229.8 million. Shares closed down $1.64 to $5.06.
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