Updated from 12:41 p.m. ESTShares of Sunrise Telecom ( SRTI) were among technology's winners Thursday, rising 29.2% after the company raised its fourth-quarter sales guidance. The telecommunications-equipment maker now expects sales of $18 million to $20 million. In October, Sunrise forecast sales of $12 million to $16 million. When the company posts its results on Feb. 1, analysts polled by Thomson First Call are expecting break-even earnings on sales of $13.7 million. Strength in the company's wireless protocol business, coupled with a weak dollar that boosts its export business, led to the revised fourth-quarter outlook. Shares traded up 78 cents to $3.45. Open Text ( OTEX) rose 3.1% after the software company said its second-quarter results would top expectations. Adjusted earnings are now expected to be between 26 cents to 30 cents a share on sales of $110 million to $113 million. Previously, it expected earnings of 18 cents to 26 cents a share on sales of $100 million to $106 million. Analysts had been expecting earnings of 23 cents a share on sales of $103.4 million. "Our second-quarter results demonstrate that the IXOS integration continues to be on track, and we are experiencing strong demand from the cross-selling of Open Text and IXOS products," the company said. Shares traded up 61 cents to $20.32. Shares of Overland Storage ( OVRL) fell 9% after the data storage company cut its second-quarter earnings and sales guidance. The San Diego-based company now expects earnings of 18 cents to 20 cents a share, down from its previous guidance of 20 cents a share. Sales are expected to be down 10% from previous guidance of $69 million. Analysts had been expecting earnings of 20 cents a share on sales of $68.7 million. Overland blamed the shortfall on weaker-than-expected sales to both OEM and branded customers in the Americas region. Overland will report its second-quarter results on Feb. 3. Shares traded down $1.45 to $14.65.
Electroglas ( EGLS) fell 7.1% after the company warned that its fourth-quarter sales would fall below expectations. The company, which makes wafer probers used by semiconductor manufacturers, now expects sales of $11 million to $11.4 million, down from its previous guidance of $12 million to $15 million issued just four weeks ago. "We continued to experience push outs for orders already in hand and for orders not yet received but expected. We hope to have these orders ... rescheduled for early 2005," the company said. Analysts had been expecting sales of $14.7 million. Shares traded down 30 cents to $3.94. Shares of Actuate ( ACTU) rose 6.6% after the software maker raised its fourth-quarter earnings and sales targets. The company now expects earnings to exceed its previous guidance of 1 cent a share and expects sales to come in ahead of its previous guidance of $24 million to $24.5 million. Analysts had been expecting earnings of 1 cent a share on sales of $24.3 million. Fourth-quarter results will be issued on Feb. 10. Shares traded up 15 cents to $2.43. Other technology movers included Sirius Satellite Radio ( SIRI), down 15 cents to $7.49; Microsoft ( MSFT), down 3 cents to $26.75; Symantec ( SYMC), down $1.86 to $23.18; Intel ( INTC), up 7 cents to $22.46; Cisco ( CSCO), up 28 cents to $18.85; Lucent ( LU), down 7 cents to $3.57; Sun Microsystems ( SUNW), down 10 cents to $4.60; Oracle ( ORCL), up 12 cents to $13.22; and Transmeta ( TMTA), up 13 cents to $1.13.