were among the tech sector's losers Monday, tumbling 17% after the wireless-communications company slashed its third-quarter revenue projection.
For the period ended Oct. 1, the company expects to report revenue of $155 million to $160 million, down significantly from an earlier view of $200 million to $210 million. Analysts polled by Thomson First Call project revenue of $206.2 million. "During the third quarter, we experienced several issues which have impacted our results for the quarter," Powerwave said. "These issues included difficulties in implementing our new ERP system in our European operations during the quarter, coupled with delays in the transfer of production from one of our manufacturing locations." Shares were trading down $1.33 to $6.47.
soared 30% after the contract semiconductor-assembly company filed an amended annual report for 2005 and a quarterly report for the period ended March 31, 2006, that corrected errors in stock-based compensation expense. The restatement totals about $106 million in charges for the period of Jan. 1, 1998, through June 30, 2006. Amkor also filed its quarterly report for the period ended June 30, 2006, which "cures the alleged default under the indentures governing each of the company's outstanding series of notes," the company said. Shares were adding $1.51 to $6.56.
Brush Engineered Materials
rose 12% after the provider of alloy and electronic products boosted its third-quarter earnings and revenue estimates. The company projects earnings of 32 cents to 36 cents a share, with revenue of about $200 million. Analysts, on average, anticipate earnings of 28 cents a share and revenue of $175.6 million. Previously, Brush forecast earnings of 23 cents to 28 cents a share and revenue of $170 million to $180 million. The company attributed the improved forecast to strength in its telecom and computer, magnetic-data storage and industrial-components markets.
Brush Engineered expects full-year earnings of $1.20 to $1.28 a share, above Wall Street's forecast of $1.16. The company sees revenue of $725 million to $735 million, compared with analysts' projection of $694.1 million. Shares were trading up $3 to $27.02.
vaulted 15% after the Internet media and market-research company confirmed that
is interested in acquiring the shares of the company that it doesn't already own for $16 a share. VNU currently owns 60.5% of the company. NetRatings said its board will meet later Monday to determine how to proceed with the proposal. Shares of NetRatings were trading up $2.17 to $16.74.
Other technology movers included
, unchanged at $20.63;
, up 10 cents to $24.19;
Level 3 Communications
, up 13 cents to $5.28;
Sirius Satellite Radio
, up 2 cents to $3.91;
, down 15 cents to $27.72;
, down 7 cents to $18.12; and
, down 3 cents to $18.27.