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Tech Industry

STOCKS TO WATCH: Fatbrain.com, Redback Networks and 24/7 Media

Expect the following technology stocks to be among Thursday's most actively traded issues: Fatbrain.com, Redback Networks and 24/7 Media.

  • Fatbrain.com Inc. (Nasdaq: FATB)

    Fatbrain.com should get a favorable reaction Thursday after topping analysts' estimates in its fourth quarter.

    However, it still lost $10 million, or 79 cents a share, on sales of $11.9 million.

    First Call consensus expected it to lose 82 cents a share in the quarter.

    Its shares closed off 1 7/8 to 15 3/4 ahead of the earnings report.

    The $11.9 million in sales marks a 122 percent jump from the year-ago quarter when it lost $3.4 million, or 37 cents a share, on sales of $5.3 million.

    For the year, Fatbrain.com lost $30.3 million, or $2.61 a share, on sales of $35.3 million, a 79 percent improvement from fiscal 1998 when it lost $9.9 million, or $2.87 a share, on sales of $19.8 million.

    Last quarter, Fatbrain.com lost $9.1 million, or 80 cents a share, on sales of $8.2 million.

  • Redback Networks Inc. (Nasdaq: RBAK)

    Redback shares figure to jump Thursday after it announced that it had completed its purchase of Siara Systems and set a 2-for-1 stock split after the bell.

    The split will take effect April 3 for shareholders of Mar. 20 record. It will be the second split for the network equipment vendor's stock since the company went public in June.

    Prior to the announcement, shares of Redback closed Wednesday's regular trading at 327 11/16, down 14 11/16.

    The split was announced on the same day that Redback completed its acquisition of privately-held Siara Systems, a developer of optical networking technology. The all-stock deal is valued at $4.3 billion. Former Siara shareholders will control 38 percent of the combined company.

  • NaviSite Inc. (Nasdaq: NAVI)

    NaviSite, which hosts Web sites for companies plans to split its stock 2-for-1. The company said its second-quarter loss narrowed to 41 cents from 83 cents a year earlier. NaviSite is also planning a sale of $400 million to $600 million of securities. NaviSite rose 12 1/16 to 266 at Wednesday's close.

  • 24/7 Media Inc. (Nasdaq: TFSM)

    24/7 Media delivered some good news Wednesday when it topped analysts' estimates in its fourth quarter, posting a loss of $7.5 million, or 34 cents a share, on sales of $37.1 million.

    First Call consensus expected 24/7 (Nasdaq: TFSM) to lose 72 cents a share.

    Its shares closed up 1 5/8 to 55 1/8 ahead of the earnings report.

    The $37.1 million in sales marks a 275 percent jump from the year-ago quarter when it posted a loss of $4.8 million, or 30 cents a share, on sales of $9.9 million.

    For the fiscal year, 24/7 lost $24.9 million, or $1.25 a share, on sales of $90 million compared to a loss of $14.7 million, or $1.44 a share, on sales of $20.9 million in fiscal 1998.

    Company officials said its network sales improved 45 percent sequentially to $31.7 million.

    Its total ad impressions delivered soared to 10.7 billion, including 3.9 billion impressions in December.