Tech Industry

STOCKS TO WATCH: Concord Communications, Critical Path and Scient

Expect the following technology stocks to be among Thursday's most actively traded issues: Concord Communications, Critical Path and Scient.

  • Concord Communications (Nasdaq: CCRD)

    Concord Communications should move higher Thursday after it reiterated its fourth-quarter guidance of a profit of 6 cents a share.

    The company said its earnings results would exclude a one-time charge of $2.3 million.

    The write-off stems from a $2.3 million investment in a service provider, Broadband Infrastructure Group Corp. Concord said Broadband has informed it that due to market conditions, Broadband was unable to receive anticipated additional funding and has ceased business operations.

    The stock closed off 94 cents to $6.63 ahead of the news.

  • Critical Path (Nasdaq: CPTH)

    Keep an eye on Critical Path Thursday after it named a new CFO and repeated its sales and earnings guidance for the fourth quarter and fiscal 2001.

    The Internet messaging services provider said Lawrence Reinhold will replace Mark Rubash, who resigned due to a family illness, as its new CFO.

    Reinhold formerly served as managing partner at PricewaterhouseCoopers.

    Its shares closed off $1.06 to $27.94.

    The company also reiterated its previous guidance of a slight profit in its fourth quarter and fiscal 2001.

    Earlier this quarter, Critical Path told analysts to expect sales of between $300 million to $310 million in fiscal 2001, up 95 percent from fiscal 2000.

    First Call Corp. consensus expects it to earn 1 cent a share in its fourth quarter and 40 cents a share in fiscal 2001.

  • Scient (Nasdaq: SCNT)

    The Internet consultant warned Wednesday that it will post a loss of $13 million, or 16 cents a share, on sales of around $80 million in its third quarter, well below most analysts' estimates.

    It also will axe 460 employees and close its Silicon Valley and Austin, Texas offices.

    It will take a restructuring charge of between $40 million to $45 million in the quarter.

    Company officials cited rapid changes in the eBusiness market for the shortfall.

    First Call Corp. consensus was expecting a profit of 8 cents a share in the quarter on sales of around $109 million.

    The stock closed off 69 cents to $4.50 ahead of the warning.