STOCKS TO WATCH: Omnipoint, SCI Systems, Sterling Commerce and Verio.
Expect the following technology stocks to be among Friday's most actively traded issues: Omnipoint, SCI Systems and Sterling Commerce.
The wireless communications provider reported a second quarter net loss of $178.8 million, or $3.36 a share, 10 cents better than analyst consensus.
Second quarter sales ballooned to $89.7 million, almost entirely from PCS services. PCS sales were up 32 percent sequentially and up 121 percent year-over-year. Omnipoint increased its total subscriber base to 594,000 in the second quarter as it saw its highest net subscriber growth ever.
Average revenue per subscriber increased to $49, up from $45 in the first quarter, as average minutes of use rose, said George Schmitt, president of Omnipoint Communications Services.
Its shares closed up 1/8 to 43 3/8.
SCI Systems topped analysts' estimates in its fourth quarter Thursday, earning $42.8 million, or 60 cents a share, on sales of $1.8 billion.
First Call consensus predicted it would earn 57 cents a share in the quarter.
Fourth quarter sales rose to $1.8 billion from $1.59 billion in the year ago period, when SCI earned $36.9 million, or 54 cents a share.
Shares of SCI rose 15/16 to 53 7/16 Thursday.
It met reduced estimates in its third quarter Thursday, earning $37 million, or 38 cents a share, on sales of $152 million.
Sterling shares closed up 7/8 to 24 3/16 ahead of the earnings report.
In May, Sterling shares went into a tailspin after warning that it would miss First Call estimates of 41 cents a share in the quarter.
To turn things around, company officials said Thursday it would cut 200 jobs and reassign another 450 employees.
"The company was not satisfied with its results in the third quarter and has since completed an intensive, broad-based review of its business," said CEO Warner Blow in a prepared release.
The $152 million in sales represents a 25 percent improvement versus the year-ago quarter when it made $31.2 million, or 33 cents a share, on sales of $122 million. However, third-quarter sales slipped a tad compared to the $152.6 million it recorded in the second quarter.
Sterling shares moved up to a 52-week high of 46 7/16 in May after trading at a low of 20 1/8 in October.
First Call consensus expects it to earn $1.51 a share in the fiscal year.
Thirteen of the 23 analysts following the e-commerce software provider maintain either a "buy" or "strong buy" recommendation.
The world's largest operator of Internet sites for businesses said its loss was $1.22 a share, down from $1.44 a year earlier. That beat the $1.30 average forecast of analysts polled by First Call Corp. Verio rose 3 7/8 to 67 7/8 at Thursday's close.