| Tech Stock News and Analysis |
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| Monday, June 05, 2006 |
| Shares of Mikron Infrared (MIKR:Nasdaq) were among technology's winners Monday, jumping 20% after the maker of infrared devices posted big gains in second-quarter earnings and sales. For the quarter ended April 30, the company earned $969,175, or 17 cents a share, on sales of $9.3 million. During the year-earlier period, the company earned $570,474, or 10 cents a share, on sales of $7.6 million. "I am pleased with our second-quarter performance which showed strong sales and operating-profit performance," the company said. "Mikron's North American operations, which are experiencing an upward trend, outperformed the solid second-quarter results of Mikron's European unit." Shares were trading up $1.59 to $9.73. C&D Technologies (CHP:NYSE) fell 5% after the producer of power storage and conversion systems posted disappointing first-quarter results. The company reported a loss of $8.7 million, or 34 cents a share, on revenue of $129.2 million. The results included a one-time charge of $1.7 million. Analysts polled by Thomson First Call expected a loss of 4 cents a share. C&D said its results were hurt by escalating commodity prices. During the year-earlier quarter, the company recorded a loss of $1.7 million, or 7 cents a share, on revenue of $122.8 million. Looking ahead, C&D Technologies expects to return to profitability during the second half of fiscal 2007, which ends Jan. 31, 2007. Shares were down 36 cents to $6.38. Shares of Fundtech (FNDT:Nasdaq) rose 9% after the provider of electronic-payment software announced a $20 million share buyback program. The company said it may buy up to $6.7 million worth of shares using retained earnings from the past eight calendar quarters. The remaining $13.3 million worth of stock can be bought using the company's regular working capital funds, pending approval from the Tel Aviv District court. Shares were trading up 81 cents to $9.95. Stellent (STEL:Nasdaq) fell 2% after the company announced the resignation of its chief financial officer. The software company said that Gregg Waldon will be replaced by Darin McAreavey, Stellent's corporate controller. Separately, SoftBrands (SBN:AMEX) said it hired Waldon as its new CFO, effective immediately. "SoftBrands is very pleased to have someone of Gregg's caliber to join our company," SoftBrands said. Waldon replaces David Latzke, who said in March that he planned to leave the company. Latzke will remain with SoftBrands through June 30. Shares of Stellent were trading down 20 cents to $11.27, while shares of SoftBrands fell 4 cents, or 2%, to $1.69. Shares of Lexar Media (LEXR:Nasdaq) and Micron (MU:NYSE) traded actively after the boards of both companies approved an amendment to change the exchange ratio in their merger. Micron raised the exchange ratio to 0.5925 shares of Micron from 0.5625 shares. Lexar shareholders will vote on the deal June 16. Micron shares were trading down 1 cent to $16.45, while Lexar shares were down 2 cents to $9.60. Other technology movers included Microsoft (MSFT:Nasdaq) , down 16 cents to $22.60; Intel (INTC:Nasdaq) , down 12 cents to $18.11; Sirius Satellite Radio (SIRI:Nasdaq) , down 7 cents to $4.34; Cisco Systems (CSCO:Nasdaq) , down 20 cents to $20.24; Apple Computer (AAPL:Nasdaq) , down $1 to $60.66; Sun Microsystems (SUNW:Nasdaq) , up 2 cents to $4.48; Level 3 Communications (LVLT:Nasdaq) , down 13 cents to $4.89; SanDisk (SNDK:Nasdaq) , up $1.58 to $56.71; Oracle (ORCL:Nasdaq) , down 14 cents to $14.01; Applied Materials (AMAT:Nasdaq) , down 16 cents to $16.88; Advanced Micro Devices (AMD:NYSE) , down 57 cents to $29.53; Texas Instruments (TXN:NYSE) , down 3 cents to $32.10; and Lucent Technologies (LU:NYSE) , down 2 cents to $2.53. |
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