Shares of M-Systems(FLSH Quote) were among technology's winners Wednesday, rising 8% after the flash memory company said its first-quarter revenue would be higher than its original guidance.
The company said revenue will exceed the $140 million to $170 million range it previously forecast. Analysts polled by Thomson First Call project revenue of $156.9 million. The company expects earnings, before stock-based compensation costs, to be more than 16 cents a share. Analysts project earnings of 21 cents a share. M-Systems plans to issue its first-quarter results on April 26. Shares were trading up $2.21 to $28.40.
Shares of Richardson Electronics(RELL Quote) plunged 19% after the company said it would restate its financial results because of accounting errors at one of its Italian subsidiaries. The company also announced the resignation of Arthur Buckland, the company's president and chief operating officer. Buckland's resignation comes less than three months after he took the job. ...
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