were among technology's losers Friday, falling 41% after the online marketing company said its chief financial officer quit and warned that third-quarter numbers would disappoint.
The company expects a break-even quarter on sales of about $3.8 million. Analysts polled by Thomson First Call had been expecting earnings of 12 cents a share on sales of $5 million. "During the third quarter, we chose to be very aggressive in eliminating any site distribution or traffic that led to lower quality leads for our clients. While that impacted revenues and made our revenue predictability more difficult, it is laying a solid strategic base for our future growth," the company said.
Aptimus also announced the resignation of John Wade to pursue other interests. Wade, who has served as CFO since 1998, will stay until the company finds a permanent replacement. Shares were recently trading down $5.73 to $8.12.
fell 27% after the company cut its third-quarter guidance and said the
Securities and Exchange Commission
is investigating the company. The company now expects sales of $620 million to $640 million, down from previous guidance of $660 million to $680 million. UTStarcom blamed the sales shortfall on a delay in recognition of $40 million in sales from a contract with Softbank BB. The company, which didn't say how much money it would lose during the third quarter, said only that its results would be below the forecast it issued in August, when it said that it would post a loss of 35 cents to 40 cents a share. That forecast included $5 million to $10 million in restructuring charges. Analysts had been expecting a loss of 43 cents a share on sales of $667.4 million.
As for the SEC investigation, the company said the Commission is looking "into certain aspects of the company's financial disclosures during prior reporting periods." Shares were trading down $2.05 to $5.60.
fell 7% after the company filed to sell 10.2 million shares. The company, which provides network-neutral data centers and Internet exchange services, said that stockholder STT Communications, through its subsidiaries, would sell all the shares covered by the shelf registration statement. Shares were trading down $2.59 to $36.74.
rose 6% after the company received an initial contract worth $3 million to $5 million. The company will provide monochrome displays for three voice over Internet protocol telephone models. International DisplayWorks didn't name the customer, but said that it posted sales of about $4 billion last year. Shipments under the contract are expected to begin during the fiscal first quarter. Shares were trading up 35 cents to $5.83.
Cable & Wireless
( CWP) fell 15% after the company said that its sales were in line during the first half of the year, "but with an overall shift in the revenue mix from retail to carrier services and with weaker margins in the retail businesses." The company posted a 13% decline in retail sales while reporting an increase of 3% in carrier services. Cable & Wireless also said that it has experienced some loss of momentum in sales planning since announcing the acquisition of Energis on Aug. 16. Finally, the company said that it has suspended a number of cost reduction initiatives in its U.K. business until it receives a "clearer understanding of the requirements of the combined business" from the Office of Fair Trading. Shares were trading down $1.09 to $6.35.
Other technology heavy traders included
, down 2 cents to $24.71;
, down 8 cents to $11.95;
( LU), up 1 cent to $3.21;
, down 9 cents to $4.09;
, down 5 cents to $2.15;
, up 7 cents to $23.83;
, down 3 cents to $17.70;
, down 93 cents to $50.77;
, up 44 cents to $32.11;
Sirius Satellite Radio
, down 2 cents to $6.37;
, up 24 cents to $16.91; and
, up 19 cents to $52.11.