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Tech Industry

STOCKS TO WATCH: Computer Sciences, Priceline.com and Qualcomm

Expect the following technology stocks to be among Friday's most actively traded issues: Computer Sciences, Priceline.com and Qualcomm.

  • Computer Sciences (NYSE: CSC)

    Computer Sciences will be active after it met analysts' estimates in its second quarter, earning $109 million, or 64 cents a share, on sales of $2.5 billion.

    First Call Corp. consensus expected it to earn 64 cents a share in the quarter.

    Ahead of the earnings report, its shares closed up 3.13 to 65.94.

    The $2.5 billion in sales marks a 12 percent improvement from the year-ago quarter when it earned $93.1 million, or 55 cents a share, on sales of $2.23 billion.

    The stock moved as high as 99.88 in May after falling to a low of 60 in December.

    Ten of the 12 analysts following the stock rate it either a "buy" or "strong buy" recommendation.

    Analysts are expecting a profit of $2.99 a share in the fiscal year.

  • Priceline.com (Nasdaq: PCLN)

    Priceline.com is in for a long day after it announced it will lay off 87 employees and that CFO Heidi Miller has called it quits.

    Priceline.com met analysts' estimates in its third quarter when it lost $2 million, or 1 cent a share, on sales of $341 million.

    First Call Corp. consensus expected it to lose a penny a share in the quarter.

    Priceline.com shares closed up 0.66 to 6.84 ahead of the earnings report before falling 25 percent in after-hours trading.

    Company officials blamed sluggish airline ticket sales for the sequential revenue decline.

    The $341 million in sales represents a 124 percent improvement from the year-ago quarter when it lost $12 million, or 8 cents a share, on sales of $152 million.

    Company officials said it will lay off 87 of its 535 employees and take an unknown restructuring charge in its fourth quarter.

  • Qualcomm (Nasdaq: QCOM)

    Qualcomm will be active after it topped analysts' estimates in its fourth quarter, earning $200.8 million, or 25 cents a share, on sales of $635 million.

    First Call Corp. consensus expected it to post a profit of 24 cents a share in the quarter.

    Its shares gained 1.31 to 62.81 ahead of the earnings report.

    The $635 million in sales marks an 11 percent improvement from the year-ago quarter when it earned $182.9 million, or 24 cents a share, on sales of $716 million.

    Company officials said they are comfortable with the current First Call Corp. profit estimates of $1.29 a share in fiscal 2001.