( INPC) were slumping 6.7% Wednesday, a day after the seller of wireless phones and service plans cut its forecast. The company expects fourth-quarter revenue from continuing operations, excluding Liberty Wireless, of between $92 million and $96 million, mainly because of lower-than-expected holiday sales and the delay of a manufacturer's product launches. InPhonic had been forecasting a top line of $104 million to $106 million.
The company also said it sold certain assets of Liberty Wireless to TelePlus Wireless, a unit of
. InPhonic was down 58 cents to $8.06. Volume was about 4 times the average.
lowered its fourth-quarter guidance, saying the revenue decrease in its wireless segment was larger than previously forecast. The company expects revenue of $62 million and earnings of 13 cents to 15 cents a share, compared with the prior outlook of $68 million to $72 million in revenue and a profit of 12 cents to 14 cents a share. Shares of RadiSys were losing $1.04, or 5.7%, to $17.15.
( MERX) was higher by 3.6% after the company posted second-quarter sales of $61.7 million, up from $43.2 million a year ago. The company lost $2.3 million, or 12 cents a share, compared with a profit of $681,000, or 4 cents a share, last year. Before items, the company would have earned 3 cents a share in the latest quarter, up from 2 cents a year ago.
For the third quarter Merix expects sales of $87 million to $91 million. The company also believes that its per-share results will be between break-even and a profit of 4 cents a share, excluding items. Analysts surveyed by Thomson First Call had forecast a loss of 3 cents for the second quarter and break-even results for the third quarter. Merix rose 28 cents to $8.12.
saw its shares jump more than 12% after the company projected fourth-quarter revenue of about $31 million and full-year revenue of around $102 million. According to Thomson First Call, the company only has two analysts providing estimates, but on average they expect a fourth-quarter top line of $26.8 million and full-year sales of $97.7 million. Tower's stock was ahead by 20 cents to $1.85.
, a provider of telecom software in China, said revenue for the fourth quarter will fall short of its earlier target because of significantly lower-than-expected shipment volume for Lenovo-AsiaInfo's security products. The company expects fourth-quarter net revenue of $16 million to $17 million instead of its previous guidance of $18 million to $20 million, and a loss of 90 cents to 95 cents a share, vs. the prior loss estimate of 38 cents to 49 cents.
Additionally, Bing Yu resigned from all of his duties with the company and its Lenovo-AsiaInfo division. Yu also resigned from AsiaInfo's board of directors. Jian Qi will replace Yu as president and chief executive of Lenovo-AsiaInfo. Shares of AsiaInfo slid 40 cents, or 9.9%, to $3.63.