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Tech Industry

STOCKS TO WATCH: Akamai Technologies, GoTo.com, SGI and Texas Instruments

    Expect the following technology stocks to be among Tuesday's most actively traded issues: Akamai Technologies, GoTo.com, SGI and Texas Instruments.

  • Akamai Technologies (Nasdaq: AKAM)

    Akamai will see heavy action after it easily topped analysts' estimates in its second quarter.

    It posted a loss of $43.4 million, or 50 cents a share, on sales of $18.1 million.

    First Call Corp. consensus expected it to lose 57 cents a share in the quarter.

    Ahead of the earnings report, its shares closed off 9 1/8 to 107 7/8.

    The $18.1 million in sales represents a 151 percent improvement from the first quarter when, it posted a loss of $24.2 million, or 32 cents a share, on sales of $7.2 million. In the year-ago quarter, it recorded sales of $400,000.

    In the quarter, Akamai's customer base surged to 2,100 signed customers, including 895 customers under recurring contracts.

  • GoTo.com (Nasdaq: GOTO)

    GoTo.com might gain ground Tuesday after it beat Street estimates in its latest quarter, losing $11.2 million, or 23 cents a share, on sales of $21 million.

    Analysts expected the provider of Internet search services to lose 31 cents a share in the quarter.

    However, GoTo.com shares fell to 19 1/4 in after-hours trading after closing up 2 15/16 to 20 1/8 ahead of the earnings report.

    Including a $21.5 million settlement from GoTo.com's trademark infringement lawsuit against The Walt Disney Co. (NYSE: DIS) and almost $31 million in goodwill writedowns, GoTo.com lost $20.3 million, or 42 cents per share.

  • SGI (NYSE: SGI)

    SGI shares should slide Tuesday after it posted a huge loss in its fourth quarter and named former Red Hat CFO Harold Covert as its new head bean counter.

    In the quarter, SGI posted an operating loss of $59 million on sales of $534 million.

    Including a variety of one-time charges, SGI posted a net loss of $608 million, or $3.27 a share, in the quarter.

    First Call Corp. consensus predicted the computer workstation maker would lose 19 cents a share in the quarter.

    Earlier this month, SGI warned that it would miss analysts' sales and earnings estimates.

    Originally, First Call Corp. consensus pegged it for a loss of 8 cents a share.

    The $534 million in sales represents a 36 percent decline from the year-ago quarter when it earned 35 million on sales of $828 million.

    For the fiscal year, it lost $830 million, or $4.52 a share, on sales of $2.3 billion, compared to a profit of $54 million, or 28 cents a share, on sales of $2.7 billion in fiscal 1999.

  • Texas Instruments (NYSE: TXN)

    TI shares will be active Tuesday after it posted a slight upside surprise in its second quarter.

    The maker of wireless communications chips earned $525 million, or 31 cents a share, on sales of $2.84 billion in the quarter, a penny above the consensus estimate of 30 cents a share.

    TI shares moved up 1/8 to 63 5/8 ahead of the earnings report.

    The $2.84 billion in sales represents a 19 percent improvement from the year-ago quarter when it earned $384 million, or 23 cents a share, on sales of $2.4 billion.

    Company officials also said it expects "accelerating growth" in its semiconductor business in the third quarter and will increase capital spending to meet the surging demand.

    "While we're beginning to harvest the gains from the divestiture of our memory business, we're also accelerating our growth through acquisitions," said CEO Tom Engibous in a prepared release. "Our catalog products are among our fastest-growing and most profitable, and (these acquisitions) expand our position into new high- performance areas."