Updated from 11:20 a.m. EDT
Technology stocks were mixed Tuesday, with a couple of names making big moves.
plunged 28.1% after the supplier of memory subsystems warned that first-quarter results would be below expectations. The company now sees earnings of 2 cents to 3 cents a share on revenue of $37 million to $38 million. Previously, it projected earnings of 7 cents to 8 cents a share on revenue of $40 million to $42 million. Analysts polled by Thomson First Call project earnings of 8 cents a share on revenue of $41.2 million.
For the second quarter, the company sees earnings between break-even and 2 cents a share on revenue of $34 million to $36 million. Analysts project earnings of 9 cents a share on revenue of $41.3 million. Shares were down $1.68 to $4.29.
rose 6.3% after the communications company said it is reviewing strategic alternatives, including the possible sale of the company.
"BCE will be guided by the ongoing need to maximize value for the company's shareholders, taking into consideration the need to meet all legislative and regulatory requirements, including ensuring the company remains Canadian, to meet existing foreign ownership restrictions," the company said. BCE said that it has entered into discussions with a group of Canadian pension funds regarding the possibility of taking the company private. Shares were up $2.03 to $34.10.
rose 6.2% after the maker of broadband equipment posted better-than-expected first-quarter results. The company earned $16.9 million, or 24 cents a share, on revenue of $110.3 million. Excluding items, the company earned 22 cents a share. Analysts expected earnings of 20 cents a share on revenue of $106 million. During the year-earlier quarter, the company earned $16.3 million, or 21 cents a share, on revenue of $108.6 million. Shares were up $1.54 to $26.53.
Meanwhile, an analyst downgrade hurt shares of
( TFSM). The company fell after RBC Capital cut its rating on the stock to "sector perform" from "top pick." RBC also cut its price target on the stock to $10 from $12. Shares were down $1.05 cents, or 11.1%, to $8.44.
As for the broader technology sector, the Nasdaq 100 was up about about 1 point to 1834.91.
Other technology movers included
, up 29 cents to $20.98;
Sirius Satellite Radio
, down 1 cent to $3.03;
, up 22 cents to $26.84;
, up 9 cents to $5.95;
, up 12 cents to $28.85; and
, down $1.08 to $90.35.