were among technology's losers Monday, sliding 11% after the company posted fourth-quarter results that were well below expectations.
M-Flex, maker of assembly systems used by the electronics industry, earned $2.2 million, or 9 cents a share, for the period ended Sept. 30. Analysts polled by Thomson First Call expected earnings of 28 cents a share. Revenue totaled $110.3 million, below Wall Street's forecast of $128.8 million. During the year-earlier period, the company earned $11 million, or 44 cents a share, on revenue of $110.9 million.
"The disappointing financial results for the fiscal fourth quarter were due both to specific customer issues as well as changing market dynamics in the flexible printed circuit industry," the company said. Shares were trading down $2.56 to $20.53.
XM Satellite Radio
( XMSR) jumped 15% after the satellite radio company posted better-than-anticipated third-quarter results. The company reported a loss of $85.5 million, or 32 cents a share, on revenue of $240.4 million. Analysts expected a bigger loss of 46 cents a share, with revenue of $235.3 million. During the year-earlier quarter, XM posted a loss of $134 million, or 60 cents a share, on revenue of $153.1 million.
XM now sees total subscribers of 7.7 million to 7.9 million by the end of the year. Previously, the company said that it would have between 7.7 million and 8.2 million. Shares were trading up $1.76 to $13.15.
rose 3% after the semiconductor-equipment maker agreed to sell its software division to
for $125 million in cash. "For Brooks Automation this transaction will further strengthen our balance sheet and allow us to focus more on our core semiconductor-related hardware businesses," the company said. Shares of Brooks were trading up 30 cents to $13.89, while Applied Materials was adding 19 cents, or 1%, to $17.27.
slid 9% after the telecom technology company said it plans to sell $225 million of convertible senior notes due 2026. The company will also grant underwriters a 30-day option to buy an additional $33.75 million of the notes. Arris plans to use proceeds from the offering for general corporate purposes. Shares were down $1.13 to $11.57.
jumped 25% after the online provider of real-time traffic information agreed to be acquired by digital map company
for about $179 million in cash and stock. The deal is expected to close during the first quarter of 2007. Shares of Traffic.com were trading up $1.34 to $7.49, while shares of Navteq fell 77 cents, or 2%, to $31.42.
Other technology movers included
Sirius Satellite Radio
, up 17 cents to $3.93;
( LU), up 7 cents to $2.45;
, up 15 cents to $20.66;
, up 67 cents to $24.44;
, up 26 cents to $28.99;
, up 20 cents to $17.98;
, up 6 cents to $5.29;
, up 92 cents to $79.21; and
, up 50 cents to $24.74.