were among technology's losers Tuesday, falling 22% after the company cut its first-quarter sales outlook.
The chipmaker now expects sales of roughly $63 million, down 9% from the $69 million the company reported during the fourth quarter. Previously, the company said that it would post flat sequential sales. "Our streak of 13 consecutive quarters of increasing revenues has ended," the company said. "Given our exceptional growth in revenues over the past three years, it is not all that surprising that a correction occurred." The company blamed the sequential shortfall on sales that weakened in Europe and weakness in plasma display panel sales. Shares were recently trading down $3.25 to $11.75.
fell 27% after the software maker cut its second-quarter guidance. The company now expects pro forma earnings of breakeven to 2 cents a share on core sales -- which excludes acquisitions -- of $21 million to $22 million. Total sales are expected to be between $22 million and $23 million. Previously, the company expected earnings of 6 cents to 7 cents a share on core sales of $25.3 million to $25.8 million. The company previously forecast total sales of $26.3 million to $26.8 million. Analysts polled by Thomson First Call had been expecting earnings of 7 cents a share on sales of $26.6 million. "We had a significant transaction push out past the end of the quarter and our consulting services revenue fell short of our estimates," the company said. Shares were trading down $2.89 to $7.97.
rose 8% after the company previewed second-quarter earnings that topped forecasts. When the company reports earnings on July 28, it expects to post earnings of 16 cents a share on sales of $3.8 billion. Analysts are expecting earnings of 14 cents a share. Alcatel said that strong momentum in IP routing and optical transmission, mobile communications and enterprise solutions led to the better-than-expected results. Shares were trading up 91 cents to $11.99.
fell 7% after the company said that it would acquire privately held
Altec Lansing Technologies
for about $166 million in cash. Following the transaction, Altec will retain its name and operate as a wholly-owned subsidiary of Plantronics. The acquisition of Altec, which posted 2004 sales in excess of $100 million, is expected to be accretive to Plantronics' fiscal 2006 earnings, excluding items. Shares were trading down $2.70 to $36.76.
took a breather Tuesday after the company posted first-quarter earnings that matched analysts' expectations. The company, which had seen its shares rise by more than 32% over the past 2 months, posted earnings of $122 million, or 43 cents a share, on sales of $476 million. Analysts were expecting earnings of 43 cents a share on sales of $462.7 million.
A year ago, the company earned $83 million, or 31 cents a share, on sales of $335 million. Looking ahead, Infosys forecast second-quarter earnings of 46 cents to 47 cents a share on sales of $506 million to $509 million. Analysts are expecting earnings of 46 cents a share on sales of $502.5 million. Shares were recently trading down $5.82, or 7%, to $72.01.
Other technology movers included
, up 9 cents to $3.12;
Sirius Satellite Radio
, down 18 cents to $6.93;
, up 12 cents to $25.41;
, down 11 cents to $27.59;
, up 13 cents to $19.67;
, up 11 cents to $2.72;
, down 1 cent to $13.70;
, down 15 cents to $17.05;
, up 40 cents to $36.16; and
, down 1 cent to $3.67.