Early Tech Stocks in Motion
Instinet
( INGP) rose in premarket trading Friday after the
Financial Times
reported that
Nasdaq
is negotiating to buy the electronic stock exchange. Instinet has been in play for most of the last year after majority owner
Reuters
( RTRSY) signaled a desire to lighten or eliminate its stake in the firm. Instinet was recently up 77 cents, or 13%, to $6.54.
Extreme Networks
(EXTR) - Get Report
said it lost $1.3 million, or 1 cent a share, in its third quarter, compared with a loss of $1.1 million, or 1 cent a share, a year ago. Analysts had been expecting a profit of 5 cents a share. Revenue was $92 million in the quarter, short of the $102 million consensus. The company also warned of soft revenue in its current quarter. On Instinet, the stock wad down 52 cents, or 10%, to $4.48.
RF Micro Devices
(RFMD)
said that is expects a loss of 33 cents to 34 cents a share on revenue of $150 million for the fourth quarter. Excluding items, the company expects a loss of 8 cents to 9 cents a share. The company had previously forecasted a loss of between a penny and 3 cents a share, excluding items. Analysts expected a loss of 2 cents a share, according to Thomson First Call. The stock was down 34 cents, or 6.88%, to $4.60 in after-hours trading.
Digi International
(DGII) - Get Report
said it earned $8.8 million, or 37 cents a share for the second quarter ended March 31, compared to $1.7 million, or 8 cents a share a year ago. Revenue for the quarter was $29.3 million. As a result of a settlement with the IRS on an audit of prior fiscal years, Digi recorded a reversal of $5.7 million of previously established income tax reserves, equaling 24 cents a share positive impact. Analysts were expecting earnings of 13 cents a share revenue of $30.1 million. The stock was down 26 cents, or 1.96%, to $13 in after-hours trading.
Sun Microsystems
(SUNW) - Get Report
said it lost $9 million, or break-even on a per-share basis, for the third quarter ended March 27, compared with a loss of $760 million, or 23 cents a share, a year ago. Revenue for the quarter was $2.62 billion. Excluding charges, the company lost $61 million, or 2 cents a share. Excluding charges, analysts expected Sun to break-even on sales of $2.73 billion, according to Thomson First Call. The stock was down 21 cents, or 5.3%, to $3.78.
