Tech Stocks in Motion
Shares of
Intuit
(INTU) - Get Intuit Inc. Report
were among technology's losers Thursday, falling 5% after the software company said its first-quarter loss would be higher than expected.
The company posted a pro forma loss of $14.7 million, or 8 cents a share, on sales of $301.8 million. Analysts surveyed by Thomson First Call were expecting a loss of 10 cents a share on sales of $281.9 million. A year ago the company reported a pro forma loss of $16.2 million, or 9 cents a share, on sales of $258 million.
Looking ahead, Intuit forecast a first-quarter pro forma loss of 30 cents to 35 cents a share on sales of $270 million to $285 million. Analysts had been expecting a loss of 26 cents a share on sales of $277.1 million. Shares were trading down $2.23 to $44.10.
Comtech Telecommunications
(CMTL) - Get Comtech Telecommunications Corp. Report
rose 7% after Standard & Poor's announced that the telecom-equipment maker would be added to the S&P SmallCap 600 index at the close of trading on Aug. 30. Comtech will replace
BEI Technologies
(BEIQ)
, which is being acquired. Shares were trading up $2.28 to $33.55.
Shares of
TiVo
(TIVO) - Get TiVo Corp. Report
fell 13% after the digital video recording company reported solid second-quarter results but altered its fourth-quarter goal of reaching sustainable profitability. The company posted second-quarter earnings of $240,000, or less than a penny a share, on sales of $40.7 million. Analysts were expecting a loss of 4 cents a share on sales of $40.8 million. A year ago, the company reported a loss of $10.8 million, or 13 cents a share, on sales of $27.8 million.
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Looking ahead, TiVo said that it has "elected to pursue a more aggressive marketing approach in keeping with building over a time a broader-scale subscription base, and in so doing, we will forgo reaching our goal of sustainable profitability by the fourth quarter." During the third quarter, the company expects to report a loss of $20 million to $25 million on sales of $41 million to $43 million. Analysts are expecting a third-quarter loss of 4 cents a share on sales of $42.2 million. Shares were trading down 82 cents to $5.30.
Magnetek
(MAG) - Get MAG Silver Corp. Report
rose 5% after the company posted fourth-quarter earnings that were better than expected. The company posted earnings from continuing operations of $300,000, or 1 cent a share, on sales of $57.1 million. Results exclude non-cash income tax charges. Analysts were expecting a loss of 1 cent a share. A year ago the company earned $1.7 million, or 6 cents a share, on sales of $66 million. Looking ahead, Magnetek forecast fiscal 2006 sales growth of 5% to 7%. Shares were trading up 14 cents to $2.96.
Shares of
Diodes
(DIOD) - Get Diodes Incorporated Report
fell 3% after the chipmaker said it plans to sell 2.5 million shares in a public offering. The company plans to sell 1.75 million shares while Lite-On Semiconductor, Diodes' largest shareholder, plans to sell the rest. UBS Investment Bank is leading the underwriting syndicate. Shares were trading down $1.04 to $35.96.
Other technology movers included
Lucent Technologies
( LU), down 8 cents to $3.08;
Sun Microsystems
(SUNW) - Get Sunworks, Inc. Report
, up 6 cents to $3.65;
Cisco
(CSCO) - Get Cisco Systems, Inc. Report
, unchanged at $17.52;
Microsoft
(MSFT) - Get Microsoft Corporation Report
, up 19 cents to $27;
Intel
(INTC) - Get Intel Corporation Report
, down 1 cent to $25.52;
Sirius Satellite Radio
(SIRI) - Get Sirius XM Holdings, Inc. Report
, up 8 cents to $6.59;
Oracle
(ORCL) - Get Oracle Corporation Report
, up 5 cents to $13;
Dell
(DELL) - Get Dell Technologies Inc Class C Report
, up 27 cents to $35.65; and
Symantec
(SYMC) - Get Symantec Corporation Report
, down 13 cents to $20.02.
