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THE DAY AHEAD: Stocks to Watch

Expect the following technology stocks to be among Friday's most actively traded issues: ADC Telecom, Ciena, Hauppage Digital, NeoMagic, Portal Software, Solectron and Wind River Systems.

  • ADC Telecommunications Inc. (Nasdaq: ADCT)

    The telecommunications equipment maker beat second quarter estimates by 2 cents a share, reporting earnings of 32 cents a share for the quarter. In the year-earlier period, ADC earned 25 cents.

    ADC makes systems that speeds up the transmission of voice, data, and video signals. Baby Bells and other service providers use these products to overcome the speed differences and bottlenecks that occur when fast network systems link with local-loop systems that connect end-users.

    Shares rose 7/8 to 45 15/16.

  • Ciena Corp. (Nasdaq: CIEN)

    Ciena beat Street estimates in its second quarter Thursday, earning $1.6 million, or 1 cent a share, on sales of $111.5 million.

    First Call consensus expected Ciena to lose 3 cents a share in the quarter.

    Second quarter revenue rose to $111.5 million, a sequential gain of 11 percent from $100.4 million in the first quarter, when Ciena basically broke even. The company, which makes systems for transporting fiber optic signals, saw revenue of $142.7 million in the second quarter of 1998.

    Shares of Ciena have been trading in the 20s since Tellabs abandoned plans to buy the company last year.

    Ciena stock fell 2 1/4 to 26 3/8 ahead of the earnings report.

  • Hauppage Digital Inc. (Nasdaq: HAUP)

    The video card maker for PCs is set to announce a joint venture with a large Internet firm that broadcasts streaming media programming, according to BusinessWeek's "Inside the Street" column. It could be Broadcast.com Inc. (Nasdaq: BCST), which was recently purchased by Yahoo! (Nasdaq: YHOO).

    The move would be an odd one for Yahoo!, since most of their acquisitions and partnerships have been either garnering a service or product that is used on the Web. Could it be RealNetworks Inc. (Nasdaq: RNWK)? We shall see.

    Hauppage rose 1/8 to 12 1/2.

  • NeoMagic Corp. (Nasdaq: NMGC)

    Expect the chipmaker's stock to head south Friday after it met analysts' estimates in its first quarter but said production problems will result in lower-than-expected sales and earnings in its second quarter.

    NeoMagic earned $8.6 million, or 34 cents a share, on sales of $72.4 million.

    First Call consensus expected the Santa Clara, Calif. company to earn 34 cents a share in the quarter.

    "The results which we achieved for the first quarter were very much in line with our expectations, and we are pleased with the financial results which we have reported," said CEO Prakash Agarwal in a prepared release. "However, now we are predicting lower revenue and profit in our second quarter."

    Three of the five analysts following the stock rate it a "hold."

  • Portal Software Inc. (Nasdaq: PRSF)

    Portal Software improved its total sales by 273 percent in its first quarter but it also doubled its loss compared to the year-ago period. Its shares closed off 3, or 6 percent, to 44 1/2.

    In the quarter, Portal Software lost $5.5 million, or 9 cents a share, on sales of $15.2 million.

    There was no First Call consensus estimate for the quarter.

    The $15.2 million in sales represents a 273 percent jump versus the year-ago quarter when it lost $2.1 million, or 4 cents a share, on sales of $4 million.

    Earlier this month, Portal Software raised $104 million in its initial public offering.

    The stock fell to a low of 27 3/4 before rallying to a high of 58.

  • Solectron Corp. (NYSE: SLR)

    The world's largest contract electronics manufacturer to original equipment manufacturers (OEMs) agreed to buy Sequel Inc., a closely held company that repairs notebook PCs and liquid crystal displays. Terms of the deal were not disclosed. Solectron added 1/4 to 55 9/16.

  • Wind River Systems Inc. (Nasdaq: WIND)

    The software company matched Street expectations for its first quarter with earnings of 11 cents a share, excluding a charge. In the year-earlier period, Wind River 11 cents a share. Shares dipped 11/16 to 18 5/16.

    -Eric C. Fleming contributed to this report.