Tech Stocks in Motion
Updated from 1:07 p.m. EST
Shares of
NovAtel
( NGPS) were among technology's winners Thursday, rising 14% after the company posted a 37% jump in fourth-quarter sales.
Excluding items, the company earned $2.1 million, or 25 cents a share, on sales of $11.8 million. A year ago, the company posted earnings of $790,000, or 10 cents a share, on sales of $8.6 million. The company's results were aided by strong sales in its special applications category, which notched a year-over-year increase of 36%. Sales in the aerospace and defense category rose by 22%. Shares traded up $2.49 to $20.25.
Harris
(HRS)
fell 1% after the company issued fiscal 2006 earnings and sales guidance. The company expects to earn $3.25 to $3.35 a share on sales growth of 8% to 10%. Analysts polled by Thomson First Call are expecting earnings of $3.28 a share on sales of $3.31 billion. "While pressure remains on federal budgets, we believe our government communications systems segment will continue to outperform the market as investments in secure communications, networks, intelligence-gathering and information processing remain high priorities," the company said. Shares traded down 38 cents to $67.36.
Shares of
Analogic
(ALOG)
fell 4.9% after the company posted second-quarter results that disappointed investors. The maker of health and security imaging equipment posted a loss of $3.7 million, or 27 cents a share, on sales of $84.3 million. The one-analyst estimate called for a profit of 13 cents a share on sales of $99.7 million. "We are not pleased with the results for this quarter," the company said, but the company remains confident in the long-term growth of the company, it said. Shares traded down $2.10 to $41.15.
After spending most of the day in positive territory,
Millennium Cell
( MCEL) fell modestly Thursday after the company announced that it has delivered the industry's first fully integrated 30-watt portable fuel cell system to the U.S. Air Force. The portable power system, which is fueled by chemical hydride cartridges, was delivered as part of a previously announced contract awarded to Protonex. The system integrates Millennium Cell's hydrogen energy system into Protonex's PEM fuel cell platform. Shares traded down 2 cents to $2.70.
Shares of
RF Micro Devices
(RFMD)
rose 12.6% after Piper Jaffray raised its rating on the stock to outperform from market perform. The firm raised its 2006 earnings estimate to 18 cents a share from 15 cents a share and raised its sales estimate to $705 million, up from $687 million. The firm also raised its price target on the stock to $8 from $6. An improved outlook for the second half of 2005 led the firm to upgrade RF Micro. Shares traded up 69 cents to $6.16.
Other technology movers included
Cisco
(CSCO) - Get Report
, up 18 cents to $18.71;
Intel
(INTC) - Get Report
, up 1 cent to $24.85;
Microsoft
(MSFT) - Get Report
, up 12 cents to $25.43;
Sirius Satellite Radio
(SIRI) - Get Report
, down 15 cents to $5.45;
Sun Microsystems
(SUNW) - Get Report
, up 2 cents to $4.38;
Lucent
( LU), up 4 cents to $3;
Apple Computer
(AAPL) - Get Report
, up 48 cents to $39.83; and
Oracle
(ORCL) - Get Report
, down 9 cents to $13.26.