Tech Stocks in Motion
Shares of
Pixelworks
(PXLW) - Get Pixelworks, Inc. Report
were among technology's losers Thursday, falling 28% after the company posted second-quarter results that fell below expectations and warned that third-quarter earnings would be below Wall Street forecasts.
The microchip maker reported a loss of $2.3 million, or 5 cents a share, on sales of $41.3 million. On a pro forma basis, the company reported a loss of $1.6 million, or 3 cents a share. Analysts polled by Thomson First Call were expecting a profit of 2 cents a share on sales of $42.1 million. A year ago the company reported pro forma earnings of $6.1 million, or 12 cents a share, on sales of $48.5 million. The company said that its most recent results were hurt by weaker-than-expected advanced television business, which fell 3% sequentially.
Looking ahead, Pixelworks forecast a third-quarter pro forma loss of 1 cent to 2 cents a share on sales of $47 million to $51 million. Analysts had been expecting a profit of 6 cents a share on sales of $47.7 million. Shares were trading down $3.11 to $8.01.
MIPS Technologies
(MIPS)
fell 20% after the company posted a big fourth-quarter sales miss on earnings that fell short of expectations by a penny. The chipmaker earned $2.7 million, or 6 cents a share, on sales of $14.3 million. Analysts were expecting earnings of 7 cents a share on sales of $16.2 million. A year ago the company earned $2.6 million, or 6 cents a share, on sales of $14.2 million. Shares were trading down $1.80 to $7.14.
Shares of
Andrew
(ANDW)
fell 19% after the telecom supplier posted third-quarter results that disappointed investors and warned that fourth-quarter results would be below expectations. The company earned $13 million, or 8 cents a share, on sales of $487.2 million. Excluding items, the company would have earned 12 cents a share. Analysts were expecting earnings of 13 cents a share on sales of $502.8 million. A year ago the company earned $17.7 million, or 11 cents a share, on sales of $493 million. Year-ago results included items totaling 3 cents a share.
Looking ahead, Andrew forecast fourth-quarter earnings of 4 cents to 7 cents a share, including items and charges worth 2 cents a share. Sales, meanwhile, are expected to be between $470 million and $500 million. Analysts had been expecting earnings of 17 cents a share on sales of $528 million. "Unprecedented increases in raw material costs, continued product line transition costs for filters, lower forecasted sales of geolocation and an increase in lower-margin construction services sales have limited our ability to achieve our near-term operating model targets," the company said. Shares were trading down $2.67 to $11.26.
Integrated Device Technology
(IDTI) - Get Integrated Device Technology, Inc. Report
TheStreet Recommends
rose 9% after the company posted first-quarter earnings that matched expectations. The company, which lowered its sales guidance in early July, posted pro forma earnings of $5.5 million, or 5 cents a share, on sales of $93.8 million. Analysts were expecting earnings of 5 cents a share on sales of $95.7 million. A year ago the company reported a pro forma loss of $5 million, or 5 cents a share, on sales of $101.3 million. Sales during the most recent period were hurt by seasonal weakness across the company's distribution customers and commodity SRAM products, it said. Shares were trading up 91 cents to $11.49.
Shares of
Actuate
(ACTU)
rose 12% after the company reported second-quarter results that topped forecasts. The company reported pro forma earnings of $2.9 million, or 5 cents a share, on sales of $25.8 million. Analysts were expecting earnings of 2 cents a share on sales of $25.3 million. A year ago the company reported pro forma earnings of $1.8 million, or 3 cents a share, on sales of $27.8 million. Shares were trading up 25 cents to $2.26.
Other technology movers included
Intel
(INTC) - Get Intel Corporation Report
, up 19 cents to $27.25;
Microsoft
(MSFT) - Get Microsoft Corporation Report
, up 5 cents to $25.77;
Sirius Satellite Radio
(SIRI) - Get Sirius XM Holdings, Inc. Report
, down 6 cents to $6.91;
Lucent Technologies
(LU)
, down 2 cents to $3;
Sun Microsystems
(SUNW) - Get Sunworks, Inc. Report
, down 2 cents to $3.85;
Cisco Systems
(CSCO) - Get Cisco Systems, Inc. Report
, down 3 cents to $19.15;
Motorola
(MOT)
, up 39 cents to $20.34; and
Oracle
(ORCL) - Get Oracle Corporation Report
, down 4 cents to $13.80.
