Updated from 12:53 p.m. EST
were among technology's winners Tuesday, rising 12.1% after the company raised its first-quarter outlook.
The automation-equipment maker now expects earnings of 65 cents a share on sales of $1.19 billion. Analysts polled by Thomson First Call had been expecting earnings of 48 cents a share on sales of $1.15 billion. The company cited growth in sales of its Logix suite, cost controls, and improving price and cost dynamics. Rockwell added that sales were strong across the board, showing strength in most end markets, regions and products. Shares traded up $5.59 to $51.85.
Advanced Micro Devices
fell 26.2% after the company warned of a sequential slowdown in earnings on sales that are expected to be up slightly. Fourth-quarter operating income is now expected to be "down significantly" from third-quarter operating income of $68.4 million, while sales are expected to slightly exceed the $1.24 billion reported in the third quarter, according to the company. "In a competitive and challenging NOR flash memory market, the Memory group is anticipated to have lower fourth-quarter sales and an operating loss," AMD warned. Previously, AMD said that flash memory sales would be flat to up on a sequential basis. Analysts had been looking for earnings of 19 cents a share on sales of $1.35 billion. AMD is due to report numbers on Jan. 18. Shares traded down $5.27 to $14.86.
rose 7.9% after the company raised its third-quarter outlook. Excluding items, the storage area networks company now expects to earn 46 cents to 48 cents a share on sales of $148 million to $150 million, up from previous earnings guidance of 38 cents to 41 cents a share on sales of $136 million to $143 million. Analysts had been expecting earnings of 40 cents a share on sales of $140.9 million. Third-quarter sales performance was led by double-digit sequential growth in both host bus adapters and switches, the company said. Full third-quarter results will be released on Jan. 19. Shares traded up $2.66 to $36.41.
rose 4.1% after the company announced the acquisition of FUNimation Productions, a privately held distributor of home videos and licenser of children's entertainment and Japanese animation. Navarre will pay Fort Worth, Texas-based FUNimation about $100 million in cash and issue between 1.49 million and 1.83 million shares. During fiscal 2003, FUNimation posted pretax income of $30.5 million on sales of $81.6 million. Shares of Navarre traded up 76 cents to $19.02.
fell 17% after the company slashed fourth-quarter expectations. The contract electronics manufacturer now expects to post a loss of 7 cents to 10 cents a share on sales of $121 million to $123 million. Previously, it expected earnings of 17 cents to 20 cents a share on sales of $120 million to $124 million. Analysts had been expecting earnings of 18 cents a share on sales of $122.1 million. The company blamed steel shortages, cost overruns for the installation of new manufacturing cells, along with increased costs for training people. Looking ahead, Sypris now expects 2005 earnings of 75 cents to 95 cents a share, down from previous guidance of $1 to $1.10 a share. Sales are expected to be between $500 million and $520 million. Analysts had been expecting earnings of $1.03 a share on sales of $511.9 million. Shares traded down $2.64 to $12.93.
Other technology movers included
Sirius Satellite Radio
, down 52 cents to $6.10;
, down 34 cents to $22.54;
, down $5.95 to $14.10;
, down 7 cents to $26.73;
, up 1 cent to $13.20;
, down 8 cents to $18.64;
, down $4.40 to $64.56;
( NT), up 14 cents to $3.48; and
( LU), down 4 cents to $3.48.