Skip to main content

Tech stocks traded lower Wednesday as the broader market indices dipped on continuing credit concerns.

Video-games publisher


(TTWO) - Get Take-Two Interactive Software, Inc. Report

added 6.5% after the company shrank its fourth-quarter losses.

But its first-quarter guidance came in lower than Wall Street expectations. Take-Two hopes the release of its much awaited game,

Grand Theft Auto IV

in the second quarter fiscal 2008 will help beat analysts' expectations for the fiscal year. Take-Two was up $1.18 to $19.21.



(AMD) - Get Advanced Micro Devices, Inc. Report

came off its 52-week low and gained 3.5%. The stock had been crushed in the last few days as investors were bearish on the company's growth prospects.

AMD had an analysts meet last week where it said it has delayed the release of a key product codenamed Barcelona though it hopes to hit profitability in the second half of 2008. AMD rose 27 cents to $7.95.


( PALM) shares fell 50 cents, or 8.4%, to $5.43 after the company reported second-quarter earnings Tuesday in line with its preliminary results announced earlier this month but guided below analysts' expectations.

Revenue in the second quarter fell 11% to $349.6 million. Excluding charges, net loss in the quarter was $7.8 million, or 7 cents a share, compared with a profit $17.6 million, or earnings of 17 cents a share a year ago.

Scroll to Continue

TheStreet Recommends

For the third quarter, the company guided revenue in the range of $310 million and $320 million, lower than analysts' expectations of $358 million. It expects a loss of 14 cents to 16 cents a share, excluding charges, which is wider than analysts' expectations of a loss of 4 cents a share in the third quarter. Palm also said it will suspend quarterly guidance and only offer general updates.

Shares of


(RMBS) - Get Rambus Inc. Report

were off 5.9% after the company cut its

financial guidance for the current quarter.

Rambus lowered its fourth-quarter revenue guidance to approximately $40 million from the initial forecast of $40 million to $50 million. Analysts polled by Thomson Financial had been expecting $48 million in revenue, with a loss of 6 cents a share. Rambus was down $1.25 to $19.86.

Sprint Nextel

(S) - Get SentinelOne, Inc. Class A Report

was down 3.9%, a day after the company named Daniel Hesse as its president and chief executive officer. Hesse was previously the CEO of communications services company


(EQ) - Get Equillium, Inc. Report

. Sprint was down 54 cents to $13.22.


(ORCL) - Get Oracle Corporation Report

traded down 2.6% ahead of the company's second-quarter results. Analysts polled by Thomson Financial are expecting earnings of 27 cents a share in the second quarter on revenue of $5.04 billion, compared to EPS 22 cents on revenue of $4.21 billion a year ago.

For the third quarter, analysts are expecting earnings of 29 cents a share on revenue of $5.19 billion, compared to 25 cents a share on revenue of $4.44 billion. Oracle was down 54 cents to $20.70.