Expect the following technology stocks to be among Friday's most actively traded issues: ADC Telecom, Ciena, Network Appliance, Portal Software and Sycamore Networks.
After market close Thursday, the vendor of design software reported fiscal first quarter pro forma income of $30.2 million, or 48 cents per share, not counting amortization and one-time events. First Call's survey of seven analysts predicted a profit of 46 cents per share.
Including all line items, Autodesk posted first quarter net income of $25.6 million, or 41 cents pe share.
First quarter revenue increased to $223.3 million, up 14.6 percent from $194.9 million in the year-ago period.
Keep an eye on ADC Telecom Friday after it easily topped analysts' estimates in its second quarter and announced that CEO William Cadogan plans to retire within the next 12 to 18 months.
In the quarter, ADC Telecom earned $94 million, or 29 cents a share, on sales of $709 million.
First Call Corp. consensus pegged ADC Telecom for a profit of 26 cents a share in the quarter.
Its shares closed off 1 7/8 to 60 7/16.
The $709 million in sales represents a 55 percent improvement compared to the year-ago quarter when it earned $45 million, or 15 cents a share, on sales of $457 million.
Company officials said it has formed a succession committee, and Cadogan will leave following a transition to his successor, a process which is expected to be completed within the next 12 to 18 months.
Ciena figures gain ground Friday after it topped analysts' estimates in its second quarter and told analysts to raise their forecasts for the second half of the year.
After market close Thursday, the provider of optical network systems posted fiscal second quarter net income of $18.4 million, or 12 cents a share. First Call's survey of 19 analysts predicted a profit of 10 cents a share.
Second quarter revenue increased to $185.7 million, up 66 percent year-over-year and up 20 percent sequentially. The company recorded sales to 22 customers in the second quarter, compared to 13 a year earlier. Revenue also came from another customer yet to be revealed, Ciena said.
The company sees earnings per share growing slightly faster than current consensus estimates for the third and fourth quarters, said Patrick Nettles, president and CEO. First Call consensus currently predicts per-share earnings of 16 cents and 22 cents for the third and fourth quarters, respectively.
Nettles predicted strong sequential revenue growth in the second half.
"Our visibility into orders for the third quarter and the balance of the fiscal year is very good," Nettles said.
Network Appliance also slipped past Street estimates in its fourth quarter, pocketing $24.5 million, or 7 cents a share, on sales of $200 million.
First Call Corp. consensus expected it to earn 6 cents a share in the quarter.
The $200 million in sales marks a 120 percent improvement compared to the year-ago quarter when it made $10.7 million, or 3 cents a share, on sales of $90.8 million.
Ahead of the earnings report, its shares closed up 1/4 to 69.
Portal could get a nice boost Friday after posting a surprise profit in its first quarter, earning $3.1 million, or 2 cents a share, on sales of $50.6 million.
A survey of analysts by First Call Corp. predicted the e-commerce software provider would post a loss of 1 cent a share in the quarter.
The stock closed off 2 1/16 to 39 ahead of the results.
The $50.6 million in sales marks a 234 percent jump from the year-ago quarter when it lost $5.5 million, or 4 cents a share, on sales of $15.2 million.
Its shares soared up to a 52-week high of 86 in February after falling to a low of 17 1/8 in August.
Sycamore hurdled Street estimates in its third quarter, earning $11.7 million, or a nickel a share, on sales of $59.2 million, up 104 percent from the second quarter.
Analysts were looking for a profit of 3 cents a share.
Including amortization related to deferred stock compensation, Sycamore earned $9.4 million, or 4 cents per share.
The company has topped analyst forecasts every quarter since going public last year.