Expect the following technology stocks to be among Friday's most actively traded issues: Ariba, Fairchild Semiconductor, GLobal Crossing and Wind River Systems. Ariba Inc. (Nasdaq: ARBA)
Ariba shares figure to take off Friday after it announced its second 2-for-1 split in the past three months after the bell.
Its shares closed up 19 13/16 to an all-time high of 299 11/16 ahead of the announcement.
Company officials said the split will take effect around March 31 for all shareholders of record on March 20. After the split, the business-to-business e-commerce services provider will have more than 184 million shares outstanding.
In its latest quarter, Ariba topped analysts' estimates, posting a loss of $5.6 million, or 7 cents a share, on sales of $23.5 million. Fairchild Semiconductor Corp. (NYSE: FCS)
Expect Fairchild Semiconductor to attract more than its usual amount of attention Friday after CFO Joe Martin told analysts the chipmaker said it will double its annual sales by 2002.
Martin made the bold projection late Thursday at the Robertson Stephens Tech 2000 conference in San Francisco.
"Our market is strong and our growth strategy is in place," Martin said. "The total available market for those semiconductors belonging to the multi-market segment is expected to reach $60-billion by 2002, according to the Semiconductor Industry Association. Fairchild, with its strong emphasis on new product development and strategic acquisitions, is poised to capitalize on this opportunity.''
Its shares closed off 1 11/16 to 38 7/16 Thursday. Global Crossing Ltd. (Nasdaq: GBLX)
The worldwide voice and data communications network appointed Leo Hindery as chief executive, replacing Bob Annunziata, who will remain a director. Hindery will retain his position as chief executive of Global Crossing's GlobalCenter Inc. Web-hosting unit, for which Global Crossing intends to issue a tracking stock, the company said. Global Crossing rose 3 7/16 to 54 3/8 Vishay Intertechnology Inc. (NYSE: VSH)
The maker of electronic components said its chief financial officer told a technology conference today that first-quarter profit will be at least 20 percent above analyst estimates of 44 cents a share. Vishay fell 2 5/16 to 46 1/16 at Thursday's close. Wind River Systems Inc. (Nasdaq: WIND)
It could be a long day for Wind River shareholders Friday after the software developer fell short of analysts' estimates in its fourth quarter, earning $8.9 million, or 19 cents a share, on sales of $53.4 million.
First Call consensus expected it to pocket 21 cents a share in the quarter.
Its shares fell 3 1/2 to 57 ahead of the earnings report.
The $53.4 million in sales marks a 36 percent improvement from the year-ago quarter when it earned $8.5 million, or 19 cents a share, on sales of $39.2 million.
For the year, it raked in $27.2 million, or 61 cents a share, on sales of $171.2 million, up 30 percent from fiscal 1998 when it earned $26.1 million, or 60 cents a share, on sales of $132 million.