Tech Stocks in Motion

CallWave is hammered on loss outlook.
By Mark Martinez ,

Updated from 2:31 p.m.

Shares of

CallWave

(CALL) - Get Report

were among technology's losers Monday, falling 34.2% after the voice-over-Internet-protocol company cut its third-quarter earnings and sales guidance.

The company now expects pretax earnings of 7 cents to 9 cents a share on sales of $11.4 million to $11.6 million. Analysts polled by Thomson First Call are expecting earnings of 14 cents a share. The company blamed slower-than-expected implementations by indirect partners. These partner delays, the company said, will cause it to show no incremental sales growth in the indirect channel during the third and fourth quarters. Looking ahead, CallWave expects fourth-quarter pretax income of 10 cents to 12 cents a share on sales of $11.6 million to $11.8 million. Analysts were expecting earnings of 14 cents a share. Shares traded down $3.12 to $6.

L-3 Communications

(LLL) - Get Report

rose 2.7% after the company said its MPRI subsidiary was awarded a $400 million contract by the Department of Justice. The contract calls for MPRI to support the Justice Department's International Criminal Investigative Training Assistance Program for law enforcement advisers and trainers. MPRI will be responsible for providing administrative, logistics, facilities, and command and control support. Shares traded up $1.96 to $75.08.

Shares of

J2 Global Communications

(JCOM) - Get Report

rose 1.6% after the company, which provides messaging and communications services, reaffirmed its first-quarter and 2005 financial guidance. On Feb. 3 the company said that it expects first-quarter earnings of 39 cents a share on sales of $32.2 million. Analysts are expecting earnings of 39 cents a share on sales of $32.2 million. For all of 2005, J2 Global said that it would earn $1.70 to $1.75 a share on sales of $145 million to $148 million. Analysts are expecting earnings of $1.76 a share on sales of $146.7 million. Shares traded up 66 cents to $41.62.

Qualcomm

(QCOM) - Get Report

rose 5.3% after wireless technology company offered mixed second-quarter financial guidance. The company raised its earnings guidance to 26 cents to 28 cents a share, up from previous guidance of 25 cents to 27 cents a share. However, Qualcomm trimmed its sales guidance to $1.35 billion to $1.4 billion, compared to previous guidance of $1.35 billion to $1.45 billion. Qualcomm also narrowed its MSM phone chip shipment forecast, saying that they would now be between 36 million and 37 million, compared with previous guidance of 35 million to 37 million. Analysts are expecting second-quarter earnings of 27 cents a share on sales of $1.42 billion. Shares traded up $1.89 to $37.39.

Shares of

Insight Communications

(ICCI)

rose 21.4% after the cable systems operator said that it received a $650 million buyout offer from its co-founders and the Carlyle Group, a private equity firm. The offer is worth $10.70 a share in cash, representing a premium of 11% over Friday's closing price of $9.68. Insight said that it would form a special committee of independent directors to consider the proposal. Shares traded up $2.07 to $11.75.

Other technology movers included

Cisco

(CSCO) - Get Report

, up 20 cents to $18.24;

Intel

(INTC) - Get Report

, up 43 cents to $25.11;

Microsoft

(MSFT) - Get Report

, up 30 cents to $25.47;

Oracle

(ORCL) - Get Report

, up 32 cents to $13.60;

Sun Microsystems

(SUNW) - Get Report

, up 12 cents to $4.48;

Lucent

(LU)

, up 2 cents to $3.07; and

Sirius Satellite Radio

(SIRI) - Get Report

, up 23 cents to $5.89.

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