Shares of Audible ( ADBL) were among technology's winners Wednesday, vaulting 22% after the provider of digital audio content posted better-than-expected fourth-quarter results. The company reported a loss of $700,000, or 3 cents a share, on revenue of $23.3 million. Analysts polled by Thomson First Call expected a loss of 7 cents a share and revenue of $21.9 million. During the year-earlier quarter, the company posted a loss of $2.2 million, or 9 cents a share, on revenue of $18.3 million. "The fourth quarter of 2006 delivered across-the-board improved financial results for Audible," the company said. "We saw a strong seasonal sales lift during the quarter, as well as positive results from focused promotional merchandising efforts." Shares were trading up $1.79 to $9.74. Sprint Nextel ( S) rose 7% after the telecom outfit's fourth-quarter results topped Wall Street's expectations. The company earned $261 million, or 9 cents a share. Excluding items, earnings were $836 million, or 29 cents a share, a penny above analysts' consensus estimate. Revenue totaled $10.44 billion, beating Wall Street's target of $10.39 billion. A year earlier, the company earned $195 million, or 7 cents a share, on revenue of $9.79 billion. Adjusted earnings were $687 million, or 23 cents a share, in the year-earlier period. For 2007, Sprint Nextel continues to forecast revenue of $41 billion to $42 billion. Shares were trading up $1.33 to $19.78.
Shares of Versant ( VSNT) rose 8% after the software company turned in fiscal first-quarter earnings that more than doubled from a year ago. For the quarter ended Jan. 31, the company earned $1.7 million, or 47 cents a share, on revenue of $5.2 million. During the year-earlier period, the company earned $776,000, or 22 cents a share, on revenue of $4.6 million. Looking ahead, Versant forecasts 2007 earnings before taxes of $4.4 million to $4.6 million. Shares were climbing $1.29 to $18. Bitstream ( BITS) plunged 29% after the software company posted lower fourth-quarter earnings. The company's earnings fell to $630,000, or 6 cents a share, from $788,000, or 8 cents a share, a year earlier. Revenue rose to $5.5 million from $4.6 million. Shares were trading down $2.96 to $7.31. Syniverse ( SVR) tumbled 19% after the network-services company posted disappointing fourth-quarter earnings and gave a revenue forecast below Wall Street's target. The company recorded adjusted earnings of $13.8 million, or 20 cents a share, on revenue of $85.8 million. Analysts expected earnings of 24 cents a share and revenue of $85.1 million. During the year-earlier period, the company reported adjusted earnings of $17.1 million, or 25 cents a share, on revenue of $83.6 million. For 2007, Syniverse forecasts adjusted earnings of $55 million to $60 million, with revenue of $325 million to $335 million. Analysts project 2007 revenue of $358.3 million. Shares were down $2.65 to $11.39. Other technology volume leaders included Xilinx ( XLNX), down 18 cents to $25.80; Microsoft ( MSFT), up 15 cents to $28.02; Sun Microsystems ( SUNW), up 18 cents to $6.16; Intel ( INTC), unchanged at $20.03; Sirius Satellite Radio ( SIRI), up 3 cents to $3.68; Cisco Systems ( CSCO), up 31 cents to $26.02; Oracle ( ORCL), up 42 cents to $16.71; Level 3 Communications ( LVLT), up 10 cents to $6.43; Apple ( AAPL), up $1.12 to $85.05; and Qualcomm ( QCOM), up 58 cents to $40.71.