GPS-based chipset maker
( SIRF) lost $1.89, or 27.6%, to $4.99 after the company cut its revenue outlook for the first quarter and said it will lay off 7% of its workforce. SiRF said it expects revenue to range from $60 million to $62 million in the first quarter, down from its earlier forecast of $71 million to $77 million because of a
in product demand from its customers, especially in the personal navigation devices market. An analyst at Piper Jaffray also downgraded SiRF's stock to sell from neutral.
rose $2.44, or 5.1%, to $50.20 after Citigroup analyst Brent Thill said fears of increased competition, including from Microsoft, are overblown. VMware is likely to exceed expectations for the fiscal 2008, although the first quarter of the year will be a challenge because of a seasonal weakness during the period, said the analyst. Thill has a buy rating and an $83 price target on the stock.
shares plunged 67.6% after the company said it won't move forward with its development of the drug SinuNase, a candidate for chronic sinusitis. Accentia said SinuNase didn't meet goals in a late-stage clinical trial, showing no more effectiveness than a placebo.
The company said it will meet with the FDA to design a pump spray study, exploring an area where it did see effectiveness.
Subsequently, Jefferies & Co. downgraded the stock to underperform from buy and lowered its price target to 55 cents from $7. Rodman & Renshaw downgraded the stock to market perform from market outperform. Shares of Accentia plummeted $2.02 to 97 cents.
jumped 47.5% to $6.96. The Beijing-based producer of crop seeds on Monday updated its pipeline of genetically modified seeds, including phytase corn, which the company expects will be the first genetically modified corn product in China, and others. The company is also slated to report first-quarter earnings after the market close.
( RADN) surged 18% to $8.46. The company, which sells products and systems for operation of satellite, troposcatter, microwave and cable communication networks, announced its Xicom Technology business got a $5.8 million order for Tri-band and Ka-band power amplifiers. The order, which will ship in 2008, is part of the company's participation in the Air Force's GMT satellite communications program. Feltl & Co. upgraded the Radyne to buy.
continued to decline after Monday's downgrade from Wachovia Capital Markets analyst Michael Matson, who lowered his rating on the stock to market perform from outperform. Matson believes that the orthopedic-implant maker could see lower profit margins in 2008.
After falling as much as 7% Monday, only to recover and close in the green, Symmetry shares recently were down $2.48, or 13.3%, to $16.13.
This article was written by a staff member of TheStreet.com.