Even though the broader technology market stumbled out of the gate, there were a number of tech names heading higher Monday.
jumped 29% after the software company agreed to be acquired by Business & Decision Group for $50 million. The all-cash deal represents a 33% premium to Friday's closing price of $3.20. "This transaction benefits our customers, employees and shareholders," said Inforte. "Business & Decision is at the forefront of business intelligence and CRM solutions and this makes it an ideal partner for Inforte, which is known as a best-in-class provider of SAP business intelligence and visionary CRM solutions." The deal is expected to close in about 90 days. Shares of Inforte were recently trading up 93 cents to $4.13.
jumped 13% after the company posted a narrowed first-quarter loss and said that second-quarter revenue would top Wall Street's forecasts. The company reported a loss of $3.9 million, or 14 cents a share, on revenue of $17.5 million. Analysts polled by Thomson Financial expected a loss of 12 cents a share on revenue of $17.6 million. During the year-earlier quarter, the company posted a loss of $7.1 million, or $0.46 a share, on revenue of $8.8 million.
Looking ahead, the company sees second-quarter revenue of $55 million to $58 million on operating income, excluding items, of $1.5 million to $1.6 million. Analysts project revenue of $49 million. Shares were trading up $1.31 to $11.52.
rose 5.9% after the servers manufacturer said it secured a design win from one of the "world's largest" telecom equipment makers for its multiport adapters. "The customer will use these high-performance products to enhance the connectivity of its new security appliance product line," Silicom said. Financial terms of the deal were not disclosed. Additionally, Silicom did not disclose the identity of the customer. Shares of Silicom were trading up $1.22 to $21.87.
was also on the winning side, rising 6.2% after the electronics manufacturing services company posted better-than-expected first-quarter results. The company earned $2.8 million, or 19 cents a share, on revenue of $69.5 million. Results included a one-time tax gain of $1.5 million. The single-analyst forecast provided by Thomson Financial called for a profit of 5 cents a share on revenue of $66.5 million. During the year-earlier quarter, the company earned $1 million, or 6 cents a share, on revenue of $59.9 million. Shares were trading up 19 cents to $3.26.
( QADI) tumbled 11% after the software company cut its first-quarter guidance. The company now sees a loss of 5 cents to 7 cents a share on revenue of $56 million. Previously, the company said that it would earn between 1 and 3 cents a share on revenue of $58 million to $61 million. Guidance for both periods includes stock-based compensation costs of 3 cents a share. Analysts project earnings, excluding stock-based compensation expenses, of 5 cents a share on revenue of $59.5 million. The company blamed the shortfall on "lower than expected license revenues in the first quarter of 2008 due to sales management changes in the North America region." A portion of the revenue shortfall will be recognized during subsequent quarters, the company said. Shares were trading down $1.01 to $8.36.
As for the broader technology sector, the
was trading down 5 points to about 1894.
Other technology movers included
, up 9 cents to $5.24;
, up 56 cents to $20.33;
, down 26 cents to $26.37;
, down 3 cents to $30.86;
, up 8 cents to $22.36;
Level 3 Communications
, down 1 cent to $5.53; and
RF Micro Devices
, up 21 cents to $6.29.