Shares of Xyratex ( XRTX) were among technology's winners Thursday, jumping 18% after the maker of computer storage products posted first-quarter results that easily topped expectations and projected second-quarter results well above Wall Street's forecasts. For the quarter ended Feb. 28, the company earned $6.4 million, or 22 cents a share, on revenue of $190.5 million. Excluding items, Xyratex earned $8.3 million, or 28 cents a share. Analysts surveyed by Thomson First Call expected earnings of 25 cents a share, before items, on revenue of $174.1 million. During the year-earlier period, the company posted earnings from continuing operations of $9.9 million, or 34 cents a share, on revenue of $142.5 million. Looking ahead, Xyratex sees second-quarter earnings, excluding items, of 83 cents to 93 cents a share. Analysts project earnings of 56 cents a share. The company expects revenue of $268 million to $283 million, above Wall Street's forecast of $218.2 million. Shares were trading up $4.76 to $30.87. Jabil Circuit ( JBL) shares jumped 9% after the provider of electronics manufacturing services posted higher-than-anticipated second-quarter revenue and offered a third-quarter forecast that topped expectations. The company reported second-quarter earnings of $69 million, or 32 cents a share, for the quarter ended Feb. 28. Excluding items, the company earned $78.7 million, or 37 cents a share, matching analysts' mean estimate. Jabil posted revenue of $2.31 billion, topping analysts' projection of $2.21 billion. During the year-earlier period, the company earned $46 million, or 22 cents a share, on revenue of $1.72 billion. Excluding items, the company earned $54.9 million, or 27 cents a share, during the year-earlier quarter. For the third quarter, Jabil sees adjusted earnings of 43 cents a share, excluding items. The company predicts revenue of $2.5 billion to $2.6 billion. Analysts project earnings of 41 cents a share on revenue of $2.32 billion. Shares recently advanced $3.48 to $41.72.
Shares of Adobe Systems ( ADBE) slipped 3% after the software maker posted better-than-expected first-quarter results but offered a mixed second-quarter forecast. The company earned $105.1 million, or 17 cents a share, on revenue of $655.5 million. Excluding items, the company earned $197.5 million, or 32 cents a share. Analysts expected earnings of 29 cents a share, before items, and revenue of $650.3 million. During the year-earlier period, the company earned $151.9 million, or 30 cents a share, on revenue of $472.9 million. Excluding items, earnings were $133.8 million, or 26 cents a share, during the year-earlier quarter. Adobe forecast second-quarter earnings of 30 cents to 32 cents a share and revenue of $640 million to $670 million. Analysts project earnings of 32 cents a share, with revenue of $675.7 million. Shares were trading $1.12 lower to $35.50. Broadwing ( BWNG) slid 2% after the data communications-services company agreed to sell 3 million shares of stock for $12 apiece in a private placement. The sale price represents a 15% discount to Wednesday's closing price of $14.15. The company, which expects about $34 million in net proceeds, said it would use the cash for general purposes. Earlier this month, the company sold another 7.4 million shares at $10 apiece. Shares were down 25 cents to $13.90. Shares of GigaMedia ( GIGM) jumped 16% after the provider of broadband services posted a 96% jump in fourth-quarter earnings. The company earned $2.37 million, or 5 cents a share, up from $1.21 million, or 2 cents a share, a year earlier. Revenue fell to $11.8 million from $12.3 million. Looking ahead, GigaMedia expects revenue to increase by at least 40% on a sequential basis. Shares were trading up 84 cents to $6.03. Other technology movers included Level 3 Communications ( LVLT), up 55 cents to $3.99; JDSU ( JDSU), down 4 cents to $3.92; Microsoft ( MSFT), down 36 cents to $26.79; Intel ( INTC), up 2 cents to $20; Oracle ( ORCL), down 19 cents to $13.80; Sirius Satellite Radio ( SIRI), down 8 cents to $4.78; Cisco Systems ( CSCO), down 10 cents to $21.32; Apple Computer ( AAPL), down $1.01 to $60.66; Lucent Technologies ( LU), up 1 cent to $2.83; and Sun Microsystems ( SUNW), down 3 cents to $4.78.