were among the losers of technology stocks Tuesday, slumping 16% after the electronics-device maker cut its third-quarter revenue guidance.
The company now sees revenue of $38 million to $40 million for the quarter ending June 30, down from an earlier view of $44 million to $46 million. The company also said that margins would be hurt by the lower revenue levels. Analysts polled by Thomson First Call project revenue of $45.2 million. "The company believes merger-related product line and inventory rationalization may be impacting short-term demand," Innovex said. Shares were trading down 85 cents to $4.23.
soared 24% after
amended the terms of its merger agreement with the company. ADE shareholders will now receive $32.50 a share in cash, instead of receiving 0.64 shares of KLA for each share of ADE they hold. Since announcing the merger deal in February, shares of KLA had fallen about 21%. The cash offer represents a 25% premium based on ADE's closing price of $25.95 on Friday. Shares of ADE recently were up $6.27 to $32.22.
fell 4% after the company delayed the release of its final fourth-quarter results and cut its earnings estimate for the period. The company, which was formerly known as Computer Associates, previewed a fourth-quarter loss of 7 cents a share, below its previous forecast calling for results ranging from break-even to a profit of 2 cents a share. On a pro forma basis, the company now sees operating earnings for the March quarter at the low end of its previous guidance of 14 cents to 16 cents a share. The company blamed the weaker-than-anticipated results on a higher-than-expected sales-commission expense. CA expects revenue of about $947 million, in line with its guidance of $940 million to $950 million. Analysts project earnings of 21 cents a share on revenue of $970.1 million.
CA also said that it would restate its fiscal third-quarter earnings, which reflected $26 million in commission expense that should not have been recorded during the quarter. The restatement will cut 3 cents a share from third-quarter earnings, but will add the 3 cents to fourth-quarter EPS instead. CA said it plans to release its full fourth-quarter results when it files its annual report with the
Securities and Exchange Commission
. The company said it needs more time to perform additional work on its sales-commission expense and income taxes. Shares were down 91 cents to $21.25.
tumbled 14% after the broadband-services company issued a disappointing 2006 guidance. The company sees a full-year loss of $29.5 million to $39.5 million. Meanwhile, the company projects earnings before interest, taxes, depreciation and amortization of $15 million to $20 million, with revenue of $475 million to $485 million. Analysts expect a loss of $32.1 million, EBITDA of $15 million and revenue of $487.5 million. Shares were trading down 30 cents to $1.96.
fell modestly after the company received a five-year contract with
estimated at more than $75 million. As part of the deal, ECI will supply Exline 2 broadband systems to BT. Shares were recently trading down 13 cents to $9.70.
Other technology movers included
, up 18 cents to $4.60;
Sirius Satellite Radio
, up 28 cents to $4.46;
, down 29 cents to $17.93;
, down 34 cents to $19.97;
, down 33 cents to $23.39;
Level 3 Communications
, down 40 cents to $4.88;
, up 25 cents to $25.06;
, down 13 cents to $2.94; and
, down 3 cents to $2.55.