Updated from 11:26 a.m. EDT
Technology stocks moved higher Monday, with
leading the way.
JDA Software soared 12.8% after the software company said that it expects to post better-than-expected first-quarter results. The company sees adjusted earnings of 26 cents to 28 cents a share on revenue of $89.7 million to $90.7 million. Analysts project earnings of 21 cents a share on revenue of $85.8 million. "2007 is an important year for JDA as we consolidate and leverage the operations of Manugistics and begin to see the results of the organizational changes we put in place in 2006," the company said. "Combining the positive impact of Manugistics with strong year-over-year growth in sales of the heritage JDA products, this first quarter result gives us a flying start to the year." Shares closed up $1.93 cents to $17.07.
got a boost from two firms. CIBC upgraded the stock to outperform and slapped a $35 price tag on shares while J.P. Morgan upgraded the stock to overweight and said that
acquisition of Doubleclick makes aQuantive an attractive buyout target. Shares of aQuantive closed up $3.49, or 12.2%, to $32.01.
, meanwhile, jumped 4.5% after the provider of radio frequency identification products boosted its first-quarter revenue guidance. The company expects revenue of $7.3 million, up from an earlier view of $6.9 million to $7.1 million. "We believe these preliminary results reflect the growing demand for our infant protection and wander prevention products," the company said. Analysts polled by Thomson First Call project revenue of $7.1 million. Shares were up 24 cents to $5.60.
rose 2.1% after the software company said that first-quarter earnings would be lower than Wall Street's forecast, but boosted its full-year earnings guidance. The company sees first-quarter adjusted earnings of 8 cents to 10 cents a share, below the 12 cents that analysts projected. Mentor sees revenue of about $187 million, in line with expectations. The company now sees full-year adjusted earnings of $1.01 a share on revenue of $844 million. Previously, the company projected earnings of 95 cents a share on revenue of $830 million. Shares closed up 35 cents to $16.98.
Despite receiving an upgrade from a bank, shares of
less than 1% earlier in the day and closed up 1%. Bear Stearns upgraded the stock to outperform from peer perform, citing stabilization in memory spending and market share gains. The broker has a $63 price on the company. Shares closed up 53 cents to $52.39.
As for the broader technology sector, the
traded up 17.11 points to about 1833.96.
Other technology movers included
, up 6 cents to $5.86;
, down 6 cents to $26.62;
, up 23 cents to $20.69;
, up 27 cents to $18.90;
, up 12 cents to $28.73;
, up 17 cents to $25.53; and
, up $1.19 to $91.43.