Updated from 1:06 p.m. EDT
were among the worst-performing technology stocks Thursday, falling 27.2% after the company posted third-quarter earnings and sales that fell below Wall Street expectations.
The maker of flash-memory products earned 29 cents a share on sales of $408 million. Analysts polled by Thomson First Call were expecting earnings of 34 cents a share on sales of $456.2 million. The company said industrywide supply of NAND flash memory outstripped demand, which led to much lower average selling prices during the quarter. Looking ahead, the company said that it is optimistic about global demand in the fourth quarter. Analysts are looking for the company to post earnings of 41 cents a share on sales of $526.6 million. Shares traded down $7.68 to $20.52.
rose 13.2% after the company posted sweet fourth-quarter results. Excluding items, the computer maker earned 27 cents a share on sales of $2.35 billion. Analysts were expecting earnings of 18 cents a share on sales of $2.15 billion. Strong iPod sales in the quarter contributed to the quarter's strength. Looking ahead, Apple predicted it would earn 39 cents to 42 cents a share during the first quarter on sales of $2.8 billion to $2.9 billion. Analysts had been expecting earnings of 28 cents a share on sales of $2.52 billion. Shares traded up $5.23 to $44.98.
traded actively after the company announced strong second-quarter earnings and sales and issued in-line third-quarter earnings and sales guidance. Excluding items, the storage equipment vendor earned 40 cents a share on sales of $134.6 million. Analysts were expecting earnings of 36 cents a share on sales of $132.9 million. Looking ahead, QLogic forecast third-quarter earnings of 38 cents to 41 cents a share on sales of $136 million to about $143 million. Analysts are expecting earnings of 38 cents a share on sales of $139.7 million. Shares traded down $2.57 to $27.55 on almost three times its normal average daily trading volume.
rose 8.1% after the company posted third-quarter earnings and sales that topped expectations. The tech company earned 1 cent a share on sales of $16.5 million. Analysts were expecting a loss of 4 cents a share on sales of $15.3 million. Looking ahead, Iona forecast fourth-quarter sales of $17 million to $19 million. Analysts are looking for sales of $17.3 million. Shares traded up 35 cents to $4.65.
fell 16.7% after the maker of projectors lowered its third-quarter sales outlook and warned that it would post a loss instead of a profit. It now expects sales of $161 million to $164 million, down from its previous forecast of $170 million to $180 million. Analysts had been expecting sales of $175.1 million. The company is expecting an operating loss of $3.5 million to $4.5 million. Analysts had been expecting the company to post a profit of 2 cents a share. Including a one-time gain, the company expects to post a profit of 4 cents to 5 cents a share. Shares traded down $1.44 to $7.21.
Other technology volume leaders included
, down 48 cents to $20.51;
Sirius Satellite Radio
, down 9 cents to $3.65;
, down 23 cents to $27.80;
, down 69 cents to $15.70; and
, up 6 cents to $3.48.