Citrix, Akamai: Tech Winners & Losers
Tech winners/losers story updated with closing prices.
Citrix (CTXS) climbed 9.7% to close at $85.37 after the company reported strong first-quarter results and raised its fiscal year 2011 outlook on Wednesday.
The software company posted earnings of $74 million, or 38 cents a share, up from $47 million, or 25 cents a share, in the year-ago quarter.Motorola Solutions (MSI) rose 7.5% to close at $46.66 after reporting a huge boost in first quarter-profit. First-quarter earnings increased to $497 million, or $1.44 a share, from $69 million, or $0.21 a share in the same period last year. Internet traffic optimizer Akamai (AKAM) plummeted 14.7% to close at $34.94 as its outlook fell short of analyst expectations despite beating profit estimates. Akamai said it expects normalized earnings of 34 to 37 cents a share with revenue ranging from $270 million to $280 million for the current quarter ending in June. Consensus had called for a profit of 38 cents a share on revenue of $280.3 million. 3D Systems (TDSC), the 3D printer designer and maker, saw shares fall over 17.6% despite posting earnings growth. The company posted first-quarter net income of $6.8 million, or 28 cents per diluted share, up from $2 million, or 9 cents during the same period last year. Revenue jumped 51 percent to $47.9 million. 3D Systems also announced a two-for-one stock split for common stock. Semiconductor testing equipment maker Teradyne (TER) tumbled 12.4% to close at $16.03 after offering a disappointing outlook for next quarter. The company on Wednesday reported first-quarter profit of $94.9 million, or 41 cents per share, up from $50.1 million, or 24 cents per share, a year earlier. Teradyne predicted second-quarter adjusted earnings of 38 cents to 44 cents a share on revenue of $375 million to $400 million. Analysts had forecast 44 cents and $402 million, respectively. --Written by Olivia Oran in New York.
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