Tech Stocks in Motion
Updated from 1:17 p.m.
Shares of
TransAct Technologies
(TACT) - Get Report
were among technology's losers Friday, falling 30.2% after the provider of transaction-based printers posted fourth-quarter earnings and sales that were below expectations and warned that first-quarter results would fall short of expectations as well.
Excluding items, the company earned $1.2 million, or 11 cents a share, on sales of $14.6 million. Analysts polled by Thomson First Call were expecting earnings of 13 cents a share on sales of $16.9 million. A year ago, the company earned $1 million, or 9 cents a share, on sales of $14.7 million. The company said that weaker-than-expected gaming and lottery sales hurt fourth-quarter results.
Looking ahead, TransAct forecast first-quarter earnings of 2 cents to 4 cents a share on sales of about $13 million. Analysts had been expecting earnings of 15 cents a share on sales of $17 million. The company said it expects the decline in domestic gaming sales that it experienced in December to continue through the first half of 2005. Shares traded down $5.27 to $12.18.
Credence Systems
( CMOS) fell 9.1% the company posted a first-quarter loss that was wider than expected and warned that second-quarter results would miss expectations. Excluding items, the company -- which makes test equipment used by the semiconductor industry -- posted a loss of $14.9 million, or 17 cents a share, on sales of $93.9 million. Analysts were expecting a loss of 16 cents a share on sales of $102.6 million.
The company said there are signs of improving business conditions, particularly with its IDM customers, but the overall market remains challenging. Looking ahead, Credence forecast a second-quarter loss of 14 cents to 17 cents a share on sales of $94 million to $99 million. Analysts had been expecting a narrower loss of 11 cents a share on sales of $106 million. Shares traded down 83 cents to $8.34.
Shares of
Sonus Networks
(SONS)
fell 18.3% after the company warned that fourth-quarter sales would fall below expectations. The phone-switch maker expects earnings of 2 cents to 3 cents a share on sales of $43 million to $46 million. Analysts are expecting earnings of 2 cents a share on sales of $49.9 million. Shares traded down $1.01 to $4.50.
Siliconix
( SILI) rose 24.4% after
Vishay Intertechnology
(VSH) - Get Report
said it plans to buy the rest of Siliconix that it doesn't already own. Vishay currently owns about 80% of Siliconix's outstanding shares. Late Thursday, Vishay notified Siliconix that it plans to make a tender offer to exchange 2.64 shares of Vishay for each share of Siliconix. Shares of Vishay closed at $13.25 on Thursday, while shares of Siliconix closed at $29.15. Siliconix traded up $7.10 to $36.25, while Vishay traded down 18 cents to $13.07.
Shares of
8x8
(EGHT) - Get Report
fell 10% after the company said it plans to sell 6.9 million shares of stock at $2.10 apiece, raising about $14.5 million. The sale represents a 12% discount to 8x8's closing price of $2.39. Proceeds from the sale, which is expected to close on Tuesday, will be used to fund working capital and general corporate purposes. Shares traded down 24 cents to $2.15.
Other technology movers included
Intel
(INTC) - Get Report
, up 18 cents to $24.68;
Microsoft
(MSFT) - Get Report
, unchanged at $25.17;
Sun Microsystems
(SUNW) - Get Report
, up 15 cents to $4.36;
Oracle
(ORCL) - Get Report
, up 19 cents to $13.28;
Cisco
(CSCO) - Get Report
, up 24 cents to $18.04;
Sirius Satellite Radio
(SIRI) - Get Report
, down 9 cents to $5.66; and
Lucent
( LU), down 3 cents to $3.05.