Priceline (PCLN): The name-your-own-price e-tailer Thursday said it plans to lay off 87 employees and that its chief financial officer will leave. The announcement came as the company reported that third-quarter losses narrowed, meeting analysts' expectations as airline ticket sales sagged. Shares of Priceline fell $2.28, or about 33 percent, to $4.56.
Qualcomm (QCOM): The maker of cellular telephone technology reported Thursday that fourth-quarter earnings rose 10 percent, exceeding analyst expectations. Pro forma earnings for the period, excluding nonrecurring items, were $200.8 million, or 25 cents per share, on revenues of $635.4 million. That compares with pro forma earnings of $182.9 million, or 24 cents per share, on revenues of $716.3 million for the same period a year ago. Analysts expected Qualcomm to earn 24 cents per share, according to a survey by First Call/Thomson Financial. Shares of Qualcomm rose $6.06, or almost 10 percent, to $68.88.
Kulicke & Soffa Industries (KLIC): The Semiconductor equipment maker said Thursday that fiscal first-quarter revenue will likely be lower than expected because of customer order deferrals. Shares of Kulicke & Soffa Industries fell $3.88, or about 26 percent, to $11.
Optical Communication Products (OCPI): The optical networking company raised $115.5 million through the sale of 10.5 million shares at $11 each in an initial public offering. Shares will begin trading Friday.
Sonus Networks (SONS): The maker of telecommunications software agreed to buy closely held Telecom Technologies for at least $441 million in stock. The company said it will issue at least 10.8 million shares for privately held Telecom Technologies, and could issue another 4.2 million shares over two years if the company meets certain financial goals. Sonus rose 25 cents to $41.13.
Sprint (FON): The long-distance company warned that its earnings for 2000 and 2001 could fall short of expectations. The company said it expected to earn between $1.80 and $1.90 per share for the year. Analysts surveyed by First Call expected the company to earn $1.90 a share in 2000. Sprint rose 50 cents, or about 2 percent, to $23.