Wednesday's Tech Winners & Losers
Tech Data (TECD) rose 6.6% to $37.56 after the distributor of information technology products beat Wall Street's second-quarter estimates and offered an upside forecast for the current quarter.
Net sales for the second quarter ended July 31 were $5.6 billion, an increase of 13.6% from $4.9 billion in the prior-year period. The Clearwater, Fla., company earned $7.2 million, or 13 cents a share, for the quarter, compared with a loss of $155.5 million and $2.81 a share for the prior-year period.
Excluding items, Tech Data would have earned 50 cents in the latest quarter, 20 cents ahead of estimates. Revenue was also stronger than the $5.3 billion consensus target.
For the third quarter, the company anticipates net sales of $5.75 billion to $5.90 billion, topping the $5.67 billion expectation.Blue Coat Systems (BCSI), a maker of Web and application security appliances, surged 25.6% to $75.16 after a strong quarter and optimistic forecast. The Sunnyvale, Calif., had fiscal first-quarter revenue of $62.4 million, an increase of 71% from a year ago and ahead of the $58.8 million estimate. Blue Coat earned $2.6 million, or 14 cents a share, reversing last year's loss of $3.1 million and 22 cents a share. Before items, the company would have earned 43 cents, 8 cents better than expected. For the current quarter, Blue Coat anticipates revenue of $67 million to $70 million and adjusted earnings of 43 cents to 50 cents a share. Analysts expect revenue of $61.5 million and a profit of 37 cents. BigBand Networks (BBND), a Redwood City, Calif., seller of video-networking platforms, jumped 12.2% to $10.18 after saying Cox Communications will use its products in multiple cable systems. Cox, the third-largest U.S. cable operator, will use BigBand's offerings to significantly expand its HDTV lineups in markets across the country.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV