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Tech Industry

STOCKS TO WATCH: CMGI, Foundry, Peapod, Micron Electronics, Net2Phone

Expect the following tech issues to be among Tuesday's movers: CMGI, Foundry Networks, Peapod, Micron Electronics and Net2Phone.

  • CMGI Inc. (Nasdaq: CMGI)

    CMGI rode its Geocities and Engage Technologies investments to better-than-expected earnings in the fourth quarter.

    After market close Monday, the Internet investment firm reported a fourth quarter profit of $452.7 million, or $4.74 per share. First Call's consensus estimate called for earnings of $4.08 a share, for the quarter ended July 31.

    Also Monday, CMGi announced the purchase of free Internet access provider, which already partners with CMGi's AltaVista subsidiary for AltaVista FreeAccess. Financial terms of the acquistion were not disclosed.

  • Foundry Networks Inc. (Proposed ticker: FDRY)

    Foundry is firing up for a white hot debut after pricing its 5 million-share initial public offering at $25, well above its revised range of $22 to $24 a share.

    Analysts have cast the maker of networking products for enterprises and ISPs as the week's most promising initial public offering.

    The price range was raised Monday from an original estimate of $12 -$14 a share. Deutsche Banc Alex Brown is the lead underwriter for Foundry's IPO. Merrill Lynch and J.P. Morgan are co-managers for the deal.

  • Peapod Inc. (Nasdaq: PPOD)

    The Internet grocer said Monday it had named Bill Malloy, an executive vice president for AT&T's (NYSE: T) wireless business, as president and chief executive officer and as a member of its board.

    Andrew Parkinson, co-founder of Peapod and its current chairman, president and CEO, will continue as chairman of the company and will focus on long-term strategy and business development at Peapod, the company said.

  • Micron Electronics Inc. (Nasdaq: MUEI)

    Micron stormed past analysts' estimates in its fourth quarter Monday, raking in $13.7 million, or 14 cents a share, on sales of $333 million.

    First Call consensus pegged the Nampa, Idaho-based PC maker for a profit of 7 cents a share this time around.

  • Net2Phone Inc. (Nasdaq: NTOP)

    The Internet telephony provider posted a smaller-than-expected loss in its fourth quarter Monday, losing $3.9 million, or 10 cents a share, on sales of $11.1 million. Its shares closed off 2 5/8 to 59 7/8 ahead of the earnings report.

    First Call consensus pegged the Hackensack, N.J. company to lose 13 cents a share in the quarter.

    The $11.1 million in sales represents an almost threefold improvement compared to the year-ago quarter when it lost $2.9 million, or 9 cents a share, on sales of $4.1 million.