Equity Movers: Apple, At Road, Microsoft
Apple Computer, At Road, Microsoft, Microtest, Net Perceptions and Simple Technology are expected to move the markets today.
Apple Computer (AAPL): The computer seller warned that sales in the fourth quarter will fall "substantially below expectations." The company expects to earn some 30 cents to 33 cents per share, compared to the 45 cents per share estimated by analysts surveyed by First Call/Thomson Financial. Shares of Apple fell $25.69 to $27.81.
At Road (ARDI): The maker of global positioning technology will begin trading today on the Nasdaq under the ticker symbol "ARDI." The company raised $63 million through the sale of 7 million shares in an initial public offering priced at $9.
Microsoft (MSFT): The software company said co-founder Paul Allen plans to leave the board but will continue as a senior strategy adviser to Microsoft. Shares of Microsoft fell 69 cents to $60.63.
Microtest (MTST): The networking equipment maker warned it expects third-quarter results to range from a loss of 4 cents a share to break-even. Analysts polled by First Call expected the company to earn 5 cents per share. Shares of Microtest fell $2.19 to $4.50.
Net Perceptions (NETP): The software company said it expects a third-quarter loss of 22 cents to 32 cents a share. Analysts estimated the company would lose 13 cents. Shares of Net Perceptions fell $7.44 to $5.06.
Simple Technology (STEC): The maker of memory products will begin trading today on the Nasdaq under the ticker symbol "STEC." The company raised $70 million through the sale of 6.36 million shares at $11 in its initial stock sale.