Skip to main content

Shares of

Tech Data

(TECD) - Get Tech Data Corporation Report

were among technology's losers Wednesday, sliding 13% after the computer-products distributor posted better-than-expected fourth-quarter earnings but projected first-quarter results well below expectations.

The company earned $29.5 million, or 52 cents a share, for the fourth quarter. Excluding items, the company earned $41.2 million, or 72 cents a share. Analysts polled by Thomson First Call expected earnings of 67 cents a share, before items. Tech Data reported sales of $5.53 billion, topping Wall Street's forecast of $5.43 billion. During the year-earlier quarter, the company earned $59.3 million, or 99 cents a share, on sales of $5.6 billion. Excluding items, the company posted earnings of $47.8 million, or 80 cents a share, for the year-earlier period.

For the current quarter, Tech Data projects earnings of $16 million to $19 million, or 28 cents to 34 cents a share. The forecast includes 3 cents a share in stock-based compensation costs. The company predicts sales of $4.85 billion to $4.95 billion. Analysts project earnings of 59 cents a share and sales of $5.14 billion. Shares were trading down $5.16 to $35.81.

Lexar Media

(LEXR)

soared 21% after the company agreed to be acquired by

Micron Technology

(MU) - Get Micron Technology, Inc. Report

for about $688 million, or $8.43 a share, in stock. The price represents a 19% premium to Lexar's closing price Tuesday of $7.09. "The acquisition will strengthen Micron's position in the NAND flash business and enable the company to deliver innovative NAND flash solutions, from design, development and manufacturing to marketing and sales of products to worldwide consumers and device manufacturers," Micron said in a statement. The acquisition is expected to close by the end of the third quarter. Lexar shares were up $1.54 to $8.63, while Micron shares fell 35 cents, or 2.4%, to $14.63.

Shares of

Informatica

(INFA)

slid 7% after the software company said it plans to sell $200 million of convertible senior notes. The company also plans to offer an additional $30 million of notes to cover overallotments. Informatica anticipates that the notes will have a term of 20 years. The company plans to use proceeds from the debt sale to fund the repurchase of up to $50 million in stock. The remaining proceeds will be used for working capital and general purposes, Informatica said. Shares were down $1.12 to $14.35.

Scroll to Continue

TheStreet Recommends

Lattice Semiconductor

(LSCC) - Get Lattice Semiconductor Corporation Report

rose 6% after the chipmaker lifted the bottom of its first-quarter revenue guidance. The company now sees sequential revenue growth of 4% to 5%, up from an earlier view of 2% to 5%. Lattice posted fourth-quarter revenue of $54 million, which would imply first-quarter revenue of $56.2 million to $56.7 million. Analysts project revenue of $56 million. The company now sees other income of $3.5 million, up from an earlier view of $2.4 million. Shares were trading up 27 cents to $4.86.

Shares of

Zomax

(ZOMX)

fell 5% after the maker of supply-chain-management products reported a wider-than-expected fourth-quarter loss. The company posted a loss of $8.2 million, or 25 cents a share, on revenue of $44.1 million. Excluding items, the company reported a loss of 10 cents a share. Analysts expected a loss of 6 cents a share and revenue of $44.7 million. For the year-earlier period, the company posted a loss of $1.4 million, or 4 cents a share, on revenue of $58.6 million. The year-ago results included a charge of $1 million, or 2 cents a share.

Looking ahead, Zomax sees a first-quarter loss of $8 million to $9 million, or 25 cents to 28 cents a share. Excluding items, the company expects a loss of 21 cents to 24 cents a share. The company predicts revenue in the mid-$30 million range. Shares were down 10 cents to $1.95.

Other technology movers included

Intel

(INTC) - Get Intel Corporation Report

, down 7 cents to $19.99;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings, Inc. Report

, down 19 cents to $4.73;

Lucent Technologies

(LU)

, down 2 cents to $2.84;

Applied Materials

(AMAT) - Get Applied Materials, Inc. Report

, down 50 cents to $17.83;

Microsoft

(MSFT) - Get Microsoft Corporation Report

, up 26 cents to $27.32;

JDSU

(JDSU)

, up 9 cents to $3.59;

Cisco Systems

(CSCO) - Get Cisco Systems, Inc. Report

, down 9 cents to $20.78;

Applied Micro Circuits

(AMCC)

, up 17 cents to $3.87;

Oracle

(ORCL) - Get Oracle Corporation Report

, down 7 cents to $12.81;

Sun Microsystems

(SUNW) - Get Sunworks, Inc. Report

, down 8 cents to $4.38;

Qualcomm

(QCOM) - Get Qualcomm Inc Report

, up $1.06 to $48.92;

Symantec

(SYMC) - Get Symantec Corporation Report

, down 6 cents to $15.80; and

Apple Computer

(AAPL) - Get Apple Inc. Report

, down 72 cents to $65.59.