Equity Movers: Informix, EchoStar, MP3.com, TenFold
Quintus, Informix, Sycamore Networks, EchoStar, MP3.com, Analog Devices, BEA Systems, Network Appliance and TenFold are among the companies expected to move in the markets Wednesday.
Quintus (QNTS): The maker of company management software said it has placed its chief executive Alan Anderson on administrative leave while PricewaterhouseCoopers audits its financial statements. The company also said it will delay its 10-Q filing for the fiscal second quarter ended Sept. 30 as revenue and accounts receivable are reviewed. Shares of Quintus fell $2.63, or nearly 44 percent, to $3.38 in morning trading.
Informix (IFMX): The database software maker restated its third-quarter losses, calculating that it had lost 28 cents per share, rather than the 30 cents per share previously stated. Shares of Informix rose 13 cents, or about 3 percent, to $3.94.
Sycamore Networks (SCMR): The maker of optical networking equipment reported fiscal first-quarter pro forma net income of $6 million, or 2 cents a share, compared with a pro forma net loss of $4.1 million, or 2 cents a share, for the year-ago quarter. Wall Street expected Sycamore to report per-share earnings of 1 cent, excluding charges, according to analysts surveyed by First Call/Thomson Financial. Shares of Sycamore rose $3.16, or close to 5 percent, to $67.59.
EchoStar (DISH): The satellite broadcasting company reported third quarter losses of $130.9 million, or 28 cents a share, from $124.4 million, or 28 cents, in the year-earlier period. Analysts surveyed by First Call/Thomson Financial expected the company to lose 35 cents. Shares of EchoStar fell $2.75, or about 8 percent, to $33.38.
MP3.com (MPPP): The Internet music company agreed to pay $53.4 million Tuesday to end its copyright infringement suit with Seagram's Universal Music Group. Shares of MP3.com rose $2.38, or nearly 60 percent, to $6.38.
Analog Devices (ADI): The maker of high-speed communications chips said it earned 54 cents per share in the fourth quarter ended Oct. 28, excluding acquisition related costs. Analysts polled by First Call/Thomson Financial expected the company to earn 50 cents. Shares of Analog Devices rose $6.88, or about 12 percent, to $62.38.
BEA Systems (BEAS): The maker of e-commerce software reported a pro forma third-quarter net income of 7 cents a share, compared with 3 cents per share in the year-earlier period. Analysts polled by First Call/Thomson Financial expected the company to earn 6 cents per share. Shares of BEA Systems rose $1, or about 1 percent, to $71.94.
Network Appliance (NTAP): The computer network storage provider said second-quarter net income was 10 cents a share, beating the 9-cent average forecast made by analysts polled by First Call/Thomson Financial. Shares of Network Appliance fell $15.69, or about 16 percent, to $80.56.
TenFold (TENF): The maker of business-management software said it will cut its costs by 25 percent by closing plants in Chicago, Dallas and San Francisco, and making other restructuring moves. The company reported a third-quarter loss of 61 cents a share, compared with profit of 7 cents a year earlier. TenFold fell 28 cents, or about 10 percent, to $2.50.