Shares of Digital River ( DRIV) were among technology's losers Thursday, plunging 30% after the Web-development services company posted third-quarter results that topped forecasts but warned that 2006 earnings would be significantly below expectations. The company earned $12.4 million, or 31 cents a share, on sales of $53.2 million, for the third quarter. On an adjusted basis, which excludes one-time items or other costs, Digital River would have reported earnings of $18.9 million, or 50 cents a share. Analysts polled by Thomson First Call expected adjusted earnings of 48 cents a share on sales of $52.5 million. A year earlier, the company earned $8.1 million, or 22 cents a share, on sales of $39.4 million. Before items, earnings were $10.6 million, or 29 cents a share, a year ago. Looking ahead, Digital River forecast fourth-quarter adjusted earnings of 51 cents a share on sales of $57.1 million. The projection is slightly below Wall Street's prediction for earnings of 52 cents a share on sales of $57.9 million. For 2006, the company expects adjusted earnings of $1.44 a share on sales of $250 million. Analysts had forecast earnings of $2.39 a share on sales of $259.8 million. Shares were trading down $11.08 to $26.40. Amkor Technology ( AMKR - Get Report) rose 19% after the contract semiconductor-assembly company posted a narrower-than-expected third-quarter loss and forecast fourth-quarter results above expectations. The company's third-quarter loss shrank to $19.4 million, or 11 cents a share, from $22.3 million, or 13 cents a share, a year earlier. Sales grew to $549.6 million from $490.8 million last year. Analysts expected loss of 19 cents a share on sales of $541.1 million. For the fourth quarter, Amkor projected results ranging from a loss of 2 cents a share to a profit of 2 cents a share. The company sees sequential sales growth of 6% to 8%, implying sales of $582.6 million to $593.6 million. Analysts had forecast a loss of 8 cents a share and sales of $576.2 million. Amkor's shares recently gained 83 cents to $5.20.
Shares of Openwave Systems rose 15% after the software company posted better-than-expected first-quarter sales and gave upbeat guidance for calendar 2005. The company reported a loss of $7.7 million, or 11 cents a share, for the first quarter ended Sept. 30. Excluding items, the company would have earned $8.8 million, or 12 cents a share, matching analysts' mean estimate. Sales of $103.3 million exceeded analysts' forecast of $102.2 million. A year ago, the company reported adjusted earnings of $4.1 million, or 6 cents a share, on sales of $83.6 million. Looking ahead, Openwave said it expects to report solid calendar 2005 results. "I am pleased with our performance for the quarter and the fact that we are well-positioned to meet or exceed annual financial targets we set when I joined the company 12 months ago," said David Peterschmidt, the company's president and chief executive, in a statement. "The wireless data markets are active and we are continuing to see good momentum as we grow our core business and introduce new software solutions to the market." Shares rose $2.24 to $17.53. Actuate jumped 10% after the software company posted third-quarter results that topped forecasts. The company earned $3.7 million, or 6 cents a share, on sales of $26.8 million. Excluding items, the company would have earned $3.6 million, or 6 cents a share. Analysts expected earnings of 3 cents a share on sales of $25.6 million. A year ago, Actuate posted a loss, before items, of $800,000, or a penny share, on sales of $23.8 million. Shares were trading up 26 cents to $2.82. Shares of Axcelis Technologies ( ACLS - Get Report) sank 21% after the maker of semiconductor processing equipment forecast a fourth-quarter bottom-line that would be worse than expectations. For the third quarter, the company reported a loss of $5.2 million, or 5 cents a share, reversing a year-earlier profit of $19.1 million, or 19 cents a share. Excluding items, the company would have reported a smaller loss of 2 cents a share, better than analysts' estimate for a loss of 5 cents a share. Sales declined $87.4 million from $127.9 million last year, but beat Wall Street's projection of $85.7 million.
Axcelis forecast a fourth-quarter loss of $3 million to $7 million, or 3 cents to 7 cents a share, on sales of $85 million to $95 million. Excluding an estimated 2-cent restructuring charge, the company projected a loss of 1 cent to 5 cents a share. Analysts had anticipated a profit of 2 cents a share on sales of $90.9 million. Shares traded down $1.14 to $4.41. Other technology movers included Lucent Technologies , down 20 cents to $2.73; Sirius Satellite Radio ( SIRI), down 33 cents to $5.97; Microsoft ( MSFT - Get Report), up 11 cents to $25.22; Intel ( INTC), down 8 cents to $22.99; JDSU ( JDSU), down 9 cents to $1.94; Cisco ( CSCO), up 4 cents to $17.14; Oracle ( ORCL), up 6 cents to $12.72; and Sun Microsystems ( SUNW - Get Report), down 2 cents to $3.90.