were among technology's losers Friday, falling 13% after the company cut its second-quarter sales forecast.
The semiconductor equipment company now believes that second-quarter sales will fall by as much as 20%. Previously, the company said that sales would be flat to down 10%. The company blamed the shortfall on a general slowdown in the industry, "which results in longer acceptances and delays in shipments," it said.
Analysts polled by Thomson First Call had been expecting sales of $22.1 million, down 6% sequentially and up 36% from last year's $16.2 million in sales. Shares were trading down $1.62 to $11.03.
( PDYN) rose 52% after the company agreed to be acquired by
for about $180 million in stock. The deal values Paradyne at $3.92 a share, representing a premium of 107% based on Thursday's closing prices.
Once the deal is completed, Zhone shareholders will own about 63% of the combined company. The transaction is expected to close during the fall of 2005. In addition to announcing the stock swap, Paradyne also said that it expects to post second-quarter sales and earnings that will exceed previous guidance.
Analysts are expecting a loss of a penny a share on sales of $27.3 million. Shares of Paradyne were recently trading up 98 cents to $2.87; Zhone Technologies was trading down 71 cents, or 20%, to $2.86.
( TMTA) rose 38% after the company said it expects to post positive cash flow during the second quarter.
In May, the company said that it expected to reduce negative cash flow to less than $5 million a quarter by the end of the second quarter. "We have surpassed our first goal of substantially reducing our cash burn, and in fact I am now able to comfortably say that we will report positive operating cash flow for the 2005 second quarter," the company said.
The company also announced the resignation of its independent auditor, Ernst & Young. The firm will leave once work has been completed for the period ending Sept. 30, 2005, or on the filing due date of that quarterly report. Transmeta expects to announce a new auditor during the third quarter. Shares were trading up 23 cents to 83 cents.
( SEBL) fell 2% after the software maker warned that second-quarter sales would fall short of Wall Street expectations. Sales will now range from $312 million to $314 million. Previously, the company said that its sales would range from $300 million to $330 million. Analysts, meanwhile, had been expecting sales of $319.2 million.
Siebel said that some business in its pipeline, especially in the public sector, "where sales cycles can be more challenging to manage," got delayed during the last few days of the quarter and didn't close. Shares were trading down 18 cents to $8.61.
fell 1% Friday after the company named Robert Avery as its chief financial officer. Avery will replace Francis Barton, who resigned so that he can pursue other opportunities. Avery has been with Atmel since 1989. Shares were trading down 3 cents to $2.49.
Other technology movers included
Sirius Satellite Radio
, up 30 cents to $6.94;
, up 5 cents to $3.65;
, up 20 cents to $19.04;
, up 11 cents to $24.76;
, up 39 cents to $26.95;
, up 17 cents to $13.46; and
( LU), up 7 cents to $2.96.