Updated from 1:30 p.m.
were among technology's winners Tuesday, rising 11.4% after the security products company posted fourth-quarter earnings and said that it would exit the barcode systems business.
Excluding items, the company posted earnings of 30 cents a share on sales of $216.4 million. Analysts polled by Thomson First Call were expecting earnings of 31 cents a share on a one-analyst estimate for sales of $218.5 million. Despite the earnings shortfall, investors cheered the news that Checkpoint would be exiting the barcode business, which represents the majority of its labeling services segment.
"Through these measures, we believe we can achieve operating margins of 15% by year-end 2007, which will dramatically improve our financial performance," the company said. Looking ahead, Checkpoint said that it remains cautious about the economic environment in Europe, which represents about 49% of its total sales. As a result, the company forecast 2005 earnings of $1.15 to $1.25 a share on sales growth of 5% to 7%. Analysts are expecting 2005 earnings of $1.06 a share. Shares traded up $1.87 to $18.27.
Volt Information Sciences
fell 7.6% after the company posted a first-quarter loss. The company, which provides staffing and telecom services, posted a loss of $808,000, or 5 cents a share, on sales of $497.8 million. The one-analyst estimate called for the company to earn 7 cents a share. A year ago, the company posted a loss of $1.2 million, or 8 cents a share, on sales of $414 million. Shares traded down $2.29 to $27.71.
traded actively after the company announced succession plans to replace CEO Irwin Jacobs. Qualcomm tapped Paul Jacobs, Irwin Jacobs' son, to lead the company beginning July 1. The 71-year-old Irwin Jacobs will remain with the company and continue to serve as its chairman.
Separately, the company raised its quarterly dividend by 29% to 9 cents and set a $2 billion stock repurchase authorization. Shares traded down $1.10, or 2.9%, to $36.29.
fell 2.4% after the company reaffirmed its fourth-quarter earnings and sales guidance. The semiconductor company expects earnings of 25 cents a share on sales of $205 million. The company reiterated its belief "that the semiconductor industry inventory correction that began six months ago has nearly run its course." Shares traded down 67 cents to $27.82.
moved higher after the company unveiled plans to bring three lines of portable music players to market. The new players will allow consumers to play MP3 formatted songs, which will allow the company to compete against rivals such as
, which sells the wildly popular iPod. The new devices will come in a variety of sizes, ranging from 256MB to 1GB of capacity. Shares traded up $1.71, or 4.4%, to $41.02.
Other technology movers included
, down 31 cents to $24.80;
, down 12 cents to $18.12;
, down 7 cents to $25.40;
, down 2 cents to $3.05;
, down 11 cents to $4.37;
, up 2 cents to $13.62;
, down 33 cents to $16.82;
, down $2.22 to $40.53; and
Sirius Satellite Radio
, down 9 cents to $5.80.