were among technology's losers Monday, falling 9% after the chipmaker cut its fourth-quarter sales forecast.
Vitesse now expects sales of roughly $48 million, down from its previous projection of $52 million to $53 million. Analysts surveyed by Thomson First Call had been expecting sales of $52.7 million. "During the quarter we saw some softness in turns business and delays in the production ramp of our SAS products," the company said. "Additionally, we were unable to obtain all of the required material from our assembly subcontractors in time to ship by the end of the quarter as assembly lead times have lengthened significantly."
Looking ahead, Vitesse expects first-quarter sales of $53 million to $54 million, below the $55.7 million that analysts had been expecting. Shares were trading down 16 cents to $1.71.
rose 11% after the technology-security company agreed to be acquired by
for about $209 million, or $4 a share, in cash. The price tag represents a 14% premium to BindView's closing price of $3.50 on Friday. The deal is expected to close during the first quarter of 2006.
Separately, BindView said third-quarter sales would be between $17.7 million and $18.1 million, down from its prior expectation of $19 million to $21 million. Analysts had been expecting sales of $19.5 million. BindView didn't provide a reason for the revision. Shares were trading up 37 cents to $3.87.
Affiliated Computer Services
fell 6% after the company announced the resignation of its chief executive officer. The information-technology outsourcing company said Jeff Rich, who served as CEO since 1999, would be leaving to pursue other business ventures. Mark King, who most recently served as president and chief operating officer, will replace Rich. "I have met the objectives I set for myself, and ACS, during my tenure as CEO and it's time to move on to new opportunities and challenges," Rich said in a statement.
ACS also announced a five-year, $82.5 million contract with the New Mexico Human Services Department. The contract, which also includes three one-year options, calls for ACS to deliver full fiscal agent services. Shares were recently down $3.48 to $51.12.
rose modestly after the company agreed to be acquired by
for about $6 billion, or $23.93 a share, in cash and stock, creating Britain's second-largest communications company. Telewest shareholders will receive $16.25 a share in cash plus 0.115 shares of NTL for each share they hold. "The combination of the two companies' local access networks, which do not overlap, will provide a strong platform allowing for product differentiation and innovation and the delivery of unique packages of service offerings," NTL said. The deal is expected to close during the first quarter of 2006. Shares of Telewest recently traded up 19 cents to $23.14, while shares of NTL fell $1.01, or 2%, to $65.79.
rose 15% after the company said its VeriChip subsidiary signed up 49 new hospitals in September to use its VeriMed system for patient identification. Since the Food and Drug Administration approved the company's product for medical applications in October 2004, some 58 hospitals have adopted the VeriMed system. The company previously had expected just 20 to 25 hospitals to adopt the system by the end of 2005. "We are very pleased with the pace of market acceptance in September. Thanks to our attendance at ACEP in Washington, 47 of the 49 hospitals that signed agreements to implement the VeriMed system in September made their decisions when they saw the system demonstrated at the conference," the company said. Shares were trading up 42 cents to $3.27.
Other technology heavy traders included
, up 25 cents to $4.18;
, down 10 cents to $2.12;
, up 8 cents to $3.33;
, up 24 cents to $24.89;
, down 5 cents to $17.87;
, down 23 cents to $25.50;
, up $1.17 to $7.55;
, up 5 cents to $12.45;
, up 37 cents to $53.98; and
Sirius Satellite Radio
, unchanged at $6.54.