| Tech Stock News and Analysis |
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| Wednesday, June 07, 2006 |
| Shares of Analogic (ALOG:Nasdaq) were among technology's losers Wednesday, falling 9% after the maker of security imaging systems posted third-quarter results that fell short of expectations. The company earned $2.5 million, or 18 cents a share, on revenue of $81.3 million. Analysts polled by Thomson First Call expected earnings of 41 cents a share on revenue of $95.4 million. During the year-earlier quarter, the company earned $28.1 million, or $2.07 a share, on revenue of $84.6 million. Year-ago results included a one-time pretax gain of $43.8 million and a writedown of 9 cents a share. Shares were trading down $5.19 to $50.01. Fairchild Semiconductor (FCS:NYSE) rose 1% after the chipmaker backed its second-quarter revenue forecast. The company continues to see sequential revenue that will be flat to down 3%. Gross margins, meanwhile, are expected to increase 50 to 100 basis points on a sequential basis. "Demand has been seasonally normal so far in the second quarter with the strongest order rates for products serving the industrial, communications and TV/display end markets," the company said. Analysts project second-quarter earnings of 20 cents a share on revenue of $403.2 million, or about 2% lower than the first-quarter revenue of $409.5 million. Fairchild plans to issue second-quarter results on July 20. Shares were trading up 16 cents to $17.14. International DisplayWorks (IDWK:Nasdaq) climbed 10% after the maker of liquid crystal display products received a volume production order for TFT modules from a tier-one cell-phone maker. Initial shipments to the customer, which wasn't named in the press release, are expected to begin next week. "We are obviously very pleased to have cleared all of the technical, business and factory-related requirements necessary to become an approved supplier and commence volume shipments to this very important customer," International DisplayWorks said. Shares were trading up 53 cents to $5.88. LoopNet (LOOP:Nasdaq) soared 27% on its first day of trading as a public company. The company, which provides an online marketplace for commercial real estate, priced 6 million shares at $12 a share, raising about $42.1 million in net proceeds. Of the 6 million shares offered, LoopNet sold 4 million while existing shareholders sold the rest. The pricing came in at the middle of its proposed range of $11 to $13 a share. LoopNet said that it plans to use proceeds from the offering to fund general corporate purposes. Shares were trading up $3.29 to $15.29. Shares of 8x8 (EGHT:Nasdaq) traded actively after the Internet telephony provider said that its chief financial officer tendered his resignation. James Sullivan, the company said, is leaving the company on June 30 so that he can pursue another career opportunity. There were no disagreements between Sullivan and the company, it said. The company is now in the process of finding a new CFO to replace Sullivan. Shares were recently trading down a penny to $1.24. Other technology movers included Intel (INTC:Nasdaq) , down 29 cents to $17.50; JDSU (JDSU:Nasdaq) , up 11 cents to $3; Microsoft (MSFT:Nasdaq) , up 17 cents to $22.30; Lucent Technologies (LU:NYSE) , up 2 cents to $2.51; Cisco Systems (CSCO:Nasdaq) , up 3 cents to $20.20; Sun Microsystems (SUNW:Nasdaq) , up 3 cents to $4.40; Apple Computer (AAPL:Nasdaq) , up 53 cents to $60.25; Broadcom (BRCM:Nasdaq) , up 32 cents to $31.57; Level 3 Communications (LVLT:Nasdaq) , down 16 cents to $4.72; and Sirius Satellite Radio (SIRI:Nasdaq) , up 7 cents to $4.27. |
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