Tech Stocks in Motion

Creative Tech is hit on guidance.
Author:
Publish date:

Updated from 12:22 p.m. EDT

Shares of

Creative Technology

(CREAF)

were among technology's losers Monday, falling 10.5% after the company cut its fourth-quarter sales outlook and said it would post an operating loss.

The digital entertainment products company now expects sales of $300 million, down from previous guidance of $330 million to $360 million. The company now expects gross margin to come in below 20%. Previously, it expected 22% to 24%. As a result of the revisions, the company now expects to post an operating loss for the period. The company blamed lower-than-expected demand for MP3 players and lower-than-expected average selling prices for the revised guidance. Shares traded down 78 cents to $6.64.

TiVo

(TIVO) - Get Report

rose 2.7% after the digital video recording company said that Tom Rogers would replace Mike Ramsay as president and chief executive. Ramsay, who served as CEO for seven years, announced his intention to step down as CEO in January. Rogers officially takes over for Ramsay on July 1. Rogers previously served as CEO of

Primedia

(PRM)

. Before that, he served as president of NBC Cable and executive vice president of NBC. Shares of TiVo traded up 18 cents to $6.98.

Shares of

Kana Software

(KANAE)

traded actively after the company previewed first-quarter sales that fell below expectations. The company expects to post first-quarter sales of $10 million. Analysts surveyed by Thomson First Call were expecting sales of $11.2 million. As of March 31, Kana's cash position stood at about $14.2 million. Shares traded up 2 cents to $1.64.

On Monday,

Titan

(TTN)

said that it received an information technology contract that could be worth as much as $405.9 million over seven years. The U.S. Army awarded the contract. As part of the deal, Titan will compete against other awardees to provide IT services to more than 10,000 Pentagon employees and more than 90 agencies that are part of the Headquarters Department of the Army. Shares traded down 3 cents to $22.55.

Shares of

Airspan Networks

(AIRN)

rose 10.8% after the company said that it signed an agreement to supply its WipLL wireless multipoint platform to Digiweb for the extension of Digiweb's broadband services. Airspan said that shipments under the deal would be completed by the end of July 2005, with ongoing business expected over the coming years. Financial terms of the deal were not disclosed. Shares of Airspan traded up 57 cents to $5.85.

Other technology movers included

Microsoft

(MSFT) - Get Report

, up 1 cent to $25.05;

Cisco Systems

(CSCO) - Get Report

, down 27 cents to $19.03;

Intel

(INTC) - Get Report

, down 24 cents to $25.86;

Sun Microsystems

(SUNW) - Get Report

, down 1 cent to $3.69;

Oracle

(ORCL) - Get Report

, up 4 cents to $12.54;

Lucent Technologies

(LU)

, down 6 cents to $2.96;

Apple Computer

(AAPL) - Get Report

, down 66 cents to $37.10;

Sirius Satellite Radio

(SIRI) - Get Report

, up 3 cents to $5.99; and

Google

(GOOG) - Get Report

, up $6.85 to $304.10.