Shares of Adtran ( ADTN) were among technology's losers Friday, falling 7% after the telecom-equipment maker cut its first-quarter earnings and sales guidance. The company now projects earnings of 19 cents to 21 cents a share, including stock-based compensation costs of 2 cents a share. Previously, the company forecast earnings of 28 cents to 30 cents a share, including stock-based compensation costs. Adtran lowered its sales projection to $106 million to $112 million from $127 million to $131 million. Analysts surveyed by Thomson First Call had forecast earnings of 31 cents a share and sales of $130.1 million. "Our first quarter is normally affected by seasonality with booking rates typically increasing in the latter portion of the period," the company said. "The increase in bookings activity normally experienced as we progress through the first quarter began later than anticipated, negatively impacting shipments. Overall, we believe our growth drivers remain in place and our outlook for the year has not changed." Shares were down $1.95 to $25.99. Shares of FormFactor ( FORM) fell 1% after the semiconductor-equipment company priced 5 million shares of stock at $38 a share. The price represents a modest 1% discount to Thursday's closing price of $38.53. The company raised some $182 million in the offering. The company plans to use proceeds from the offering to increase its manufacturing capacity, for working capital, and for general corporate purposes. Shares were trading down 56 cents to $37.97. Metrologic Instruments ( MTLG) rose 2% after the maker of bar-code scanner systems signed a multiyear agreement with Spacelabs Medical, a maker of patient monitoring products. Under the agreement, Spacelabs will market and sell Metrologic's bar code scanners for use in its patient monitors. "This relationship marks a significant milestone for Metrologic as we continue to focus on supporting the needs of our customers and the healthcare market," Metrologic said. Financial terms of the deal weren't disclosed. Shares of Metrologic were trading up 36 cents to $21.91.
Shares of aQuantive ( AQNT) fell 1% after the digital marketing services company priced a secondary stock offering a slight discount to Thursday's closing price. The company agreed to sell some 7.5 million shares, up from the 7 million shares that it originally planned to sell, at $24 a share. The stock closed at $24.34 on Thursday. The company expects net proceeds of about $172 million. Proceeds will be used for working capital and other general purpose needs. Shares were trading down 20 cents to $24.14. McData ( MCDTA) rose 1% after the company posted better-than-expected fourth-quarter results and issued in-line first-quarter guidance. The storage networking company earned $5.3 million, or 3 cents a share, on revenue of $181.8 million. Excluding items, the company earned $12.6 million, or 8 cents a share. Analysts expected earnings of 6 cents a share and revenue of $180.4 million. Last year, the company posted fourth-quarter adjusted earnings of $6.8 million, or 6 cents a share, on revenue of $105.7 million. McData expects first-quarter adjusted earnings of 3 cents to 5 cents a share, with revenue of $167 million to $177 million. Analysts project earnings of 5 cents a share and revenue of $172.4 million. The company's shares were adding 3 cents to $4.46. Other technology movers included Nortel Networks ( NT), down 3 cents to $3.06; JDSU ( JDSU), down 2 cents to $3.78; Intel ( INTC), up 20 cents to $19.95; Sirius Satellite Radio ( SIRI), down 10 cents to $4.79; Oracle ( ORCL), up 9 cents to $12.93; Apple Computer ( AAPL), down 81 cents to $63.12; Cisco Systems ( CSCO), up 18 cents to $20.62; Sun Microsystems ( SUNW), up 7 cents to $4.58; Microsoft ( MSFT), up 8 cents to $27.08; Motorola ( MOT), down 28 cents to $21; Lucent Technologies ( LU), down 1 cent to $2.81; Avanex ( AVNX), up 13 cents to $2.40; and Applied Materials ( AMAT), up 29 cents to $17.99.