Tech Winners & Losers: JA Solar
Tech stocks spent another day in the red, showing no signs of recovery after Treasury Secretary Henry Paulson cautioned on Wednesday that the financial system in the U.S. remains fragile.
The Nasdaq sank 58 points, or 3.7%, to 1523 in recent trading.
Shares of JA Solar (JASO) tumbled 27.8% after the company issued fourth-quarter and full-year revenue forecasts that fell well short of analysts' expectations.
The maker of solar cells expects fourth-quarter revenue between $191.5 million and $220.9 million. For the year, JA Solar sees revenue between $1.5 billion and $1.7 billion. Analysts polled by Thomson Reuters expect $371.4 million in fourth-quarter revenue and $1.73 billion for 2009.NetApp (NTAP) shares fell 6.6% to $10.91 on Wednesday in anticipation of the company's second-quarter earnings results after the closing bell. Analysts have been down on the stock recently. RBC Capital Markets cut its 2009 revenue estimate for the company, and trimmed its price target to $21 from $23. Calyon Securities also knocked down its price target to $14 from $19. Wall Street expects NetApp to post earnings of 27 cents a share in the second quarter on revenue of $905 million. Shares of ConcurTechnologies (CNQR) got a boost on Wednesday, climbing 7.8% to $21.87 after beating Wall Street expectations in the fourth quarter. The business software company reported fourth-quarter revenue of $57.5 million, topping analysts' expectations of $56.6 million. Concur expects full-year revenue to grow 25% to $269 million, compared with the average analyst estimate of $264.4 million, according to Thomson Reuters.
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