Updated from 12:56 p.m. EST
were among technology's losers Wednesday, falling 19.1% after the company cut its fourth-quarter earnings and sales outlook.
Including charges of $2.4 million, the software company now expects earnings of 2 cents a share on sales of $22.5 million. Previously, BindView predicted earnings of 7 cents to 11 cents a share on sales of $24 million to $29 million. The company said it closed just one seven-figure transaction during the quarter, instead of the two it had previously expected. Analysts polled by Thomson First Call had been expecting earnings of 9 cents a share on sales of $25.9 million. Shares traded down 72 cents to $3.05.
rose 11.8% after the company raised its fourth-quarter sales outlook above expectations. The software company now expects sales of $31.5 million, above previous guidance of $30 million to $31 million. Analysts had been expecting sales of $30.9 million. Fourth-quarter billings, meanwhile, are now expected to be about $51.7 million, about $3.7 million above the high end of the company's previous guidance. Full results for the fourth quarter will be released on Jan. 26. Shares traded up $5.33 to $50.33.
traded actively after the company announced that CEO Michael Ramsay would step down. Ramsay, the company said, will retain his chairman position going forward and remain as CEO until a successor is found. "The time is right for me, personally and professionally, to bring in an outstanding chief executive officer to lead the company so that I can focus on future strategy," Ramsay said in a statement. Ramsay co-founded TiVo in 1997 with Jim Barton. Howard Fischer Associates has been hired to help find a replacement for Ramsay. Shares traded up 3 cents to $4.23 on volume of nearly 8.7 million shares.
Despite warning that fourth-quarter earnings and sales would fall to the low end of previous guidance,
rose Wednesday. Excluding items, the maker of computer chips used in video and audio products now expects earnings results to be at the low end of its previous guidance of a loss of 5 cents a share to a profit of 1 cent a share. Sales are now expected to be at the low end of its previous guidance of $73 million to $78 million. Analysts had been expecting a loss of 3 cents a share on sales of $74.5 million. The latest warning marks the second time the company has disappointed investors with a weak fourth-quarter outlook. In October, the company warned Wall Street that fourth-quarter earnings and sales would fall significantly below expectations that prevailed at the time. Shares traded up 14 cents to $10.33.
Network Equipment Technologies
fell 12.1% after the company posted a third-quarter loss on sales that fell short of expectations. The networking equipment company posted a loss -- which includes a $2.8 million restructuring charge -- of $2.9 million, or 12 cents a share, on sales of $29.7 million. Analysts had been expecting a profit of 6 cents a share on sales of $31 million. Shares traded down $1.02 to $7.41.
Other technology movers included
, up 62 cents to $23.16;
Sirius Satellite Radio
, up 17 cents to $6.27;
, up 5 cents to $26.78;
, up 29 cents to $18.93;
, up 38 cents to $16.53;
, up $2.91 to $17.01;
, up 28 cents to $13.48; and
, down 1 cent to $3.48.