STOCKS TO WATCH: Hotjobs, Manugistics, Palm, TranSwitch
Expect the following technology stocks to be among Tuesday's most actively traded issues: Hotjobs.com, Manugistics, Palm and TranSwitch.
The online employment services firm will be active Tuesday after announcing it had eliminated 15 percent of its staff in an effort to reach profitability by the fourth quarter of the current fiscal year.
Hotjobs.com shares closed up 25 cents to $5.50 a share ahead of the news before nudging up to $5.56 in after-hours trading.
Company executives said it would take a one-time restructuring charge of between $2.5 million to $3 million in the first quarter. However, it still expects to meet analysts' estimates in the quarter.
First Call consensus expects Hotjobs.com to lose 17 cents a share in the quarter.
The stock moved as high as $30.25 last March before falling to a low of $3.31 earlier this month.
Manugistics will be on the move Tuesday after it met analysts' estimates in its fourth quarter Monday and told investors it was comfortable with sales and earnings targets for fiscal 2002.
In the quarter, it earned $3.7 million, or 5 cents a share, on sales of $89.3 million.
First Call consensus expected the developer of supply chain management software to earn a nickel a share on sales of $81.3 million.
Its shares closed off 89 cents to $25.98 ahead of the earnings report before moving up to $27.28 in after-hours trading.
The $89.3 million in sales represents a 105 percent improvement from the year-ago quarter when it lost $1.2 million, or 2 cents a share, on sales of $43.6 million.
For the fiscal year, Manugistics pocketed $8 million, or 12 cents a share, on sales of $268 million, up 76 percent from fiscal 2000 when it lost $8.3 million, or 15 cents a share, on sales of $152.4 million.
Manugistics executives told analysts to expect first-quarter and fiscal 2002 sales and earnings in line with current estimates.
First Call consensus expects the Rockville, Md.-based company to earn 3 cents a share on sales of $86.4 million in the first quarter and 26 cents a share on sales of $397.2 million in the fiscal year.
Palm Inc. is expected on Tuesday to report solid third-quarter results, but investors will look for the handheld computer maker to provide a clear view of the sluggish U.S. economy's effect on future performance.
Santa Clara, Calif.-based Palm is seen meeting or exceeding a profit of 1 cent a share, according to a survey of analysts conducted by First Call. That compares to a profit of 3 cents a share a year ago.
Analysts expect the company to report revenues of about $470 million, compared to $272 million last year, and $522.2 million in its second quarter of fiscal 2001. They will also study the number of handhelds shipped in the period, after it shipped over 2.1 million in the second quarter.
The chipmaker will be active Tuesday after warning it will miss analysts' estimates in its first quarter because of increased order cancellations and delays.
Company executives also said second-quarter results would likely be flat with the first quarter.
TranSwitch now expects to earn between 9 cents and 10 cents a share on sales of $38 million.
Its shares closed off 69 cents a share to $18.88 ahead of the warning before falling to $16.88 in after-hours trading.
Reuters contributed to this report.