Updated from 12:57 p.m. EDT
led all technology stocks Wednesday after the software outfit
opened strongly on its first day of trading. The San Francisco-based company priced 10 million shares at $11, raising $110 million, then saw the shares open at $15 and climb as high as $17.30 before retreating a bit. The company specializes in online marketing software. Shares of Salesforce.com traded up $6.20, or 56.4%, to $17.20.
Several tech stocks moved higher Wednesday after
said it would spend $4 billion to $6 billion over the next five years to deploy a network capable of delivering integrated digital television, super-high-speed broadband and voice over IP to residential and business customers. Beneficiaries of the spending plan could include
, which traded up 41 cents, or 13.1%, to $3.54;
, which traded up 83 cents, or 5.9%, to $14.88; and
, which traded up 22 cents, or 6.2%, to $3.80.
slumped after the company reported in-line first-quarter earnings but weaker-than-expected sales. It earned 9 cents a share on sales of $41.9 million. A year ago, the company reported earnings of 3 cents a share on sales of $38.4 million. Analysts polled by Thomson First Call were expecting earnings of 9 cents a share during the latest period on sales of 43.5 million. Looking ahead, Intervoice said it expects to report second-quarter sales of $41 million to $47 million. Analysts are expecting the company to report sales of $44.9 million. Shares of Intervoice traded down $2.58, or 18.7%, to $11.22.
rose after it announced that
would license its Q3D and QXpander technologies for use in Qualcomm's Mobile Station Modem chipsets. QSound said its QXpander technology would be incorporated in a Qualcomm chipset solution sometime during the fourth quarter. Shares of QSound Labs traded up 60 cents, or 9.1%, to $7.21.
rose after the company said that its Power Systems division received $2.85 million in new orders over the past four weeks. "We're beginning to realize the benefits of our expanded product lines, strategic relationships and improved economic conditions," the company said. SatCon also said it hopes to be EBITDA positive during the second half of the year on expected sales of $35 million to $39 million. Shares of SatCon Technology traded up 22 cents, or 10.6%, to $2.30.
Technology volume leaders included JDS Uniphase,
, up 75 cents to $23.97;
, up 1 cent to $28.30;
Sirius Satellite Radio
, up 1 cent to $3.01;
, up 48 cents to $28.52;
, up 12 cents to $3.83; Ciena;
, up 3 cents to $11.15; and
, up 20 cents to $4.79.