Updated from 1:08 p.m. EDT
were among the best-performing technology stocks Wednesday, rising 10.1% after the company turned in fourth-quarter earnings and sales that topped expectations.
The telecom-equipment maker earned 2 cents a share on sales of $266.3 million. Analysts surveyed by Thomson First Call were expecting earnings of 1 cent a share on sales of $248.9 million. ADC said sales were helped by its acquisition of
and by strong sequential growth in wire-line products. Looking ahead, ADC forecast first-quarter earnings of 1 cent a share on sales of $235 million to $240 million, in line with expectations. Shares traded up 25 cents to $2.73.
fell modestly after the company warned that its fourth-quarter sales would come in below expectations. The chipmaker now expects sales of $189 million to $193 million, down from its previous guidance of $190 million to $196 million, and below analysts' expectations of $194.4 million. The company also said that it would post a loss of 18 cents to 22 cents a share, which is greater than the loss of 17 cents to 21 cents it previously forecast. Analysts are looking for a loss of 18 cents a share. "Compared to third quarter 2004, as we had expected earlier, we see weakness in communications followed by the computer and consumer sectors," the company said. Shares traded down 1 cent to $6.18.
rebounded slightly on Wednesday after the company was selected by Florida to provide document authentication technology that will be used to detect falsified documents and verify state drivers licenses. The $1.1 million contract, which was awarded by the State of Florida Department of Highway Safety and Motor Vehicles, is part of a federally funded Department of Homeland Security program to protect critical infrastructure. The initiative, the company said, will help Florida prevent attempted identity theft and fraud. Florida will begin using Viisage's technology in early 2005. Shares traded up 6 cents to $8.21.
rose 19.1% after the digital media company said that MTV Networks would launch two new online music stores in Italy and Spain using Loudeye's OD2 services. The deal expands the relationship between the two companies. Loudeye powers MTV digital music stores in the U.K., France, Germany, Italy and the Netherlands. Shares traded up 40 cents to $2.49.
fell 19.3% after the company warned that it would post a fourth-quarter loss. As a result of a weak euro and lower-than-expected sales of its wireless communication integrated circuits, the semiconductor company now expects to post a loss for the quarter and for all of 2004. Dialog also warned that gross margins in the fourth quarter would fall 8% sequentially. Sales, meanwhile, are expected to grow by more than 20% in 2004 vs. 2003. Shares traded down 59 cents to $2.47.
Other technology volume leaders included
Sirius Satellite Radio
, down 30 cents to $7.65;
, down 12 cents to $27.11;
, down $1.29 to $28.70;
, down 14 cents to $14.09;
, down 4 cents to $3.60;
, down $1.08 to $24.02;
, down 17 cents to $3.52;
, down 10 cents to $23.14; and
, up 12 cents to $19.40.