were among technology's winners Wednesday, jumping 28% after the Internet search company posted better-than-expected first-quarter results and forecast second-quarter revenue above expectations.
The Chinese company earned $4.4 million, or 13 cents per American depository share, on revenue of $16.9 million. Excluding items, the company earned $5.4 million, or 16 cents an ADS. Analysts polled by Thomson First Call expected earnings of 12 cents a share and revenue of $15.1 million.
Looking ahead, Baidu sees second-quarter revenue of $23 million to $24 million, well above the $17.6 million that analysts are projecting. Shares were trading up $17.01 to $78.39.
( TMTA) plunged 31% after the maker of microprocessors posted a narrower first-quarter loss but warned that full-year results would be lower than expected. The company also announced the resignation of its chief financial officer. Transmeta reported a first-quarter loss of $1.6 million, or 1 cent a share, on revenue of $19.5 million. During the year-earlier quarter, the company posted a loss of $21.1 million, or 11 cents a share, on revenue of $6.9 million.
For the full year, the company sees a loss of $16 million to $26 million, or 8 cents to 13 cents a share. It now sees revenue of $48 million to $58 million. The company's earnings guidance includes stock-based compensation costs of $6 million and noncash charges of $7 million related to patent amortization. In February, Transmeta forecast a loss of $12 million to $18 million, or 6 cents to 9 cents a share, on revenue of $60 million to $72 million. "Earlier this quarter, we entered into new project agreements with Sony for their new fiscal year, but at a lower revenue level than anticipated," the company said.
Separately, Transmeta announced the resignation of CFO Mark Kent. Kent's resignation will be effective once the company files its first-quarter report with the
Securities and Exchange Commission
. Kent, meanwhile, plans to remain as a consultant for a three-month period while the company searches for a new CFO. Shares were down 72 cents to $1.58.
jumped 14% after the software maker reported better-than-expected third-quarter results. The company earned $3.2 million, or 6 cents a share, on revenue of $77.1 million. Excluding items, earnings $10.8 million, or 12 cents a share. Analysts expected earnings of 8 cents a share on revenue of $71.2 million. A year earlier, the company recorded a loss of $13.7 million, or 32 cents a share, on revenue of $64.2 million. Shares were trading up $1.75 to $14.47.
( ASYT) plummeted 25% after the company posted weaker-than-expected fourth-quarter results, offered a first-quarter guidance that missed forecasts and announced the departure of its chief operating officer. For the fourth quarter ended March 31, the company earned $2 million, or 4 cents a share, on revenue of $110.7 million. Excluding items, Asyst earned $4.8 million, or 10 cents a share. Analysts expected earnings of 11 cents a share on revenue of $116.2 million. During the year-earlier quarter, the company reported a loss of $1.8 million, or 4 cents a share, on revenue of $143.6 million. On an adjusted basis, the year-earlier loss was $1.4 million, or 3 cents a share.
Asyst sees first-quarter adjusted earnings of 8 cents to 10 cents a share, below the 14 cents a share that analysts project. The company predicts revenue of $110 million to $120 million. Analysts predict revenue of $125.4 million.
The company said Warren Kocmond will step down from his operating chief position at the end of May to pursue other business and personal interests. Asyst said it doesn't plan to replace Kocmond. Shares were trading down $2.69 to $7.89.
( CRYP) rose 8% after the software developer reported better-than-anticipated first-quarter results and projected second-quarter results above expectations. The company's first-quarter earnings rose to $7.7 million, or 56 cents a share, from $4.8 million, or 34 cents a share, a year earlier. Revenue rose to $27 million from $20.3 million. Analysts expected earnings of 49 cents a share on revenue of $25 million. "It's been another excellent quarter for CryptoLogic, with results that surpassed our expectations," the company said.
Looking ahead, CryptoLogic sees second-quarter earnings of $6.6 million to $6.8 million, or 48 cents to 49 cents a share. The company predicts revenue of $26.4 million to $26.7 million. Analysts project earnings of 42 cents a share and revenue of $23.8 million. The company's shares were trading at $27.99, up $2.03.
Other technology movers included
, down 57 cents to $21.11;
, up 1 cent to $23.63;
( LU), unchanged at $2.71;
, up 65 cents to $17.74;
, down 15 cents to $19.75;
Sirius Satellite Radio
, down 8 cents to $4.55;
, down 2 cents to $3.41;
, down 6 cents to $5.09; and
, down 17 cents to $25.03.