Level 3 Communications
were among technology's winners Tuesday, climbing 13% after the networking company raised its first-quarter earnings forecast.
The company now sees adjusted operating income before depreciation and amortization of $140 million to $150 million, up from an earlier view of $105 million to $125 million. For the full year, Level 3 expects adjusted operating income before depreciation and amortization of $600 million to $650 million, up from its earlier forecast of $550 million to $600 million. "The improvements to our OIBDA projections are a result of better than expected performance in our communications business," the company said. "Our higher margin core communications services results are stronger than anticipated." Shares were trading up 58 cents to $5.05.
( LEXR) fell 6% after the flash-memory products company said that first-quarter results would be well below Wall Street forecasts. The company sees first-quarter revenue of $100 million to $130 million, compared with Wall Street's forecast of $199.8 million. The company, which has agreed to be sold to
, sees a first-quarter loss of $22 million to $30 million, much wider than the $16.7 million that analysts expected. Lexar shares were trading down 56 cents to $8.76. Micron shares declined 17 cents, or 1.2%, to $14.60.
Monolithic Power Systems
rose 7% after the company said it settled a patent dispute with
. "In the settlement, the terms of which are confidential, the companies agreed to dismiss all claims and counterclaims in the litigation with prejudice, and Microsemi agreed not to assert the four patents-in-suit against MPS or its customers in the future," Monolithic said in a statement. The patent dispute related to display lamp driver systems that are used to illuminate displays found in laptop and personal computers, as well as other liquid crystal display applications, Monolithic said. The company's shares were trading up 99 cents to $15.87, while shares of Microsemi rose 2 cents to $29.55.
rose 2% after the maker of semiconductor image sensors announced a supply agreement with Germany's
Hella KgaA Hueck
. Under the deal, OmniVision will supply Hella with CMOS image sensors for Hella's rearview camera products. Financial details weren't disclosed. OmniVision shares were trading up 57 cents to $30.45.
Millicom International Cellular
( MICC) rose 7% after the company, which announced a strategic review plan in January, said it has solicited and received several nonbinding acquisition offers. Millicom noted that there is "no certainty as to whether any of these offers will lead to a transaction, and, if any transaction is agreed, there is no certainty as to the timing, structure or terms of any transaction." Reuters, citing people with knowledge of the situation, reported that the offers range from $49 to $51 a share, which would represent a 14% premium over Monday's closing price of $44.04. Millicom shares were up $3.25 to $47.29.
Other technology movers included
( LU), down 5 cents to $3.03;
, up 1 cent to $19.76;
, up 7 cents to $5.06;
, up 12 cents to $59.63;
, up 8 cents to $21.77;
, up 6 cents to $4.11;
, up 11 cents to $27.12;
, up 32 cents to $5.55;
Sirius Satellite Radio
, down 2 cents to $4.99; and
, down 4 cents to $13.80.