Expect the following technology stocks to be among Thursday's most actively traded issues: Cable Design Technologies, Cyberian Outpost and Global Crossing.
Cable Design Technologies Corp. (NYSE: CDT)
Cable Design Technologies blew past analysts' estimates in its fourth quarter Wednesday, earning $13.4 million, or 47 cents a share, on sales of $184 million.
First Call consensus expected the maker of specialty electronic data transmission cables and network structured wiring systems to earn 40 cents a share in the quarter.
Its shares closed up 5/16 to 22 7/16 ahead of the earnings report.
In the year-ago period, Cable Design Technologies raked in $12.4 million, or 40 cents a share, on sales of $166 million.
Company officials credited the upside surprise to strong network product sales, including a shift to more enhanced bandwidth cables which is driven in part by the growth in Internet access and e-commerce.
For the year, it earned $43 million, or $1.47 a share, on sales of $684 million compared to a profit of $44.4 million, or $1.42 a share, on sales of $651.7 million in fiscal 1998.
The stock surged to a 52-week high of 24 15/16 in August after falling to a low of 9 5/8 in October.
Four of the seven analysts following the stock maintain either a "buy" or "strong buy" recommendation.
Cyberian Outpost lost less money in the second quarter than analysts predicted.
In fiscal second quarter results released after market close Wednesday, the online retailer of computer-related products reported a net loss of $8.4 million, or 36 cents per share. First Call's survey of four analysts predicted a loss of 40 cents per share for the quarter ended Aug. 31.
Second quarter sales of $36.7 million represent a 115 percent gain from $17 million in the year ago period, when the company lost 50 cents per share, or 29 cents on a pro forma basis. Gross margin rose to 11.5 percent from 10.4 percent in the first quarter.
Improved customer targeting and support of vendors' minimum advertised prices helped boost margins, said Darryl Peck, CEO and president of Cyberian Outpost.
Outpost.com saw its customer base increase 18 percent from the first quarter. About half of the company's revenue came from repeat customers.
Shares of Cyberian Outpost were unchanged at 8 3/4 in Wednesday's regular trading prior to the quarterly report. Of four Wall Street firms surveyed by Zack's Investment Research, two recommend Cyberian as "moderate buy" and two maintain the equivalent of "hold" advisories on the stock.
Look for Global Crossing shares to hop Thursday after Standard & Poor's said it will replace Frontier Corp. (NYSE: FRO) in the closely followed S&P 500 Index.
Funds that mirror the index have to buy Global Crossing shares, as was seen on the Island network.
Global Crossing shares closed at 24 3/8 but moved up to 27 in after-hours trading.