were among technology's losers Wednesday, falling 13.9% after the company said its auditor is leaving.
PricewaterhouseCoopers has declined to stand for reelection as the software company's independent auditor for the year ending Dec. 31, 2005. MicroStrategy said there were no disagreements with the firm during the years ended 2002 and 2003, and through March 9, 2005. The firm is still completing its audit for 2004. Microstrategy asked PricewaterhouseCoopers to submit a letter to the
Securities and Exchange Commission
stating whether it agrees with the company's assessment. Shares of MicroStrategy traded down $9.84 to $60.99.
fell modestly after the company reaffirmed its 2005 forecast. The company expects earnings of $5.85 to $6.10 a share on sales of more than $40 billion. The sales estimate excludes sales from Kidde, the company United Technologies acquired in late 2004. Analysts polled by Thomson First Call are expecting earnings of $6.03 a share on sales of $39.8 billion. The company cited generally favorable economies and market conditions. Shares traded down 79 cents to $101.51.
rose 2.8% after the company said that it expects first-quarter sales to be near the top end of its previous guidance of $280 million to $300 million. The maker of fiber-optic cable products said that February sales were stronger than anticipated and said that previously announced price increases offset rising material costs somewhat. The company's 2005 guidance still calls for sales of $1.2 billion to $1.3 billion on operating margins of 5% to 5.5%. Analysts are expecting first-quarter sales of $283.8 million and 2005 sales of $1.25 billion. Shares traded up 40 cents to $14.73.
( IFOX) fell 7.8% after the company posted solid fourth-quarter results but warned that first-quarter results would fall short of expectations. The company posted earnings of $17.4 million, or 68 cents a share, on sales of $38.7 million. A year ago the company earned $1.2 million, or 8 cents a share, on sales of $14.4 million. Looking ahead, the company said that a hike in its anticipated tax rate, related to its deferred tax valuation allowance, would shave 8 cents to 9 cents from 2005's earnings estimate. An increase in the amount of outstanding shares will knock off another 6 cents, resulting in 2005 earnings guidance of 72 cents to 74 cents a share. Analysts are expecting 2005 earnings of 86 cents a share. For the first quarter, the company expects earnings of $2.6 million, or 11 cents a share, on sales of $37.2 million, below expectations of 16 cents a share in earnings on sales of $39.3 million. Shares traded down $1.48 to $17.54.
fell 18.3% after the wireless phone service company posted fourth-quarter results that fell short of expectations and warned that 2005 results would miss. Excluding items, the company posted a loss of 68 cents a share on sales of $195.5 million. Analysts expected a narrower loss of 50 cents a share on sales of $198.3 million. Shares traded down 52 cents to $2.32.
fell for a second straight day on heavy volume Wednesday, a day after the company issued 2005 earnings and sales guidance that disappointed investors. The company forecast 2005 earnings of $55 million to $65 million, or 50 cents to 60 cents a share, on sales growth of 10%. Analysts had been expecting earnings of 83 cents a share on sales of $945.5 million, or sales growth of 11.5%. After dropping almost 27% Tuesday, shares fell another 35 cents, or 5.3%, to $6.19 on Wednesday. Some 4.5 million shares changed hands, more than five times its average daily volume.
Other technology movers included
, down 23 cents to $24.68;
Research In Motion
( RIMM), up $11.22 to $78.31;
, down 13 cents to $23.75;
( LU), down 10 cents to $2.81;
, down 16 cents to $18.09;
, down 10 cents to $4.25;
, down 16 cents to $12.99;
Sirius Satellite Radio
, down 9 cents to $5.24; and
, down 90 cents to $5.80.