AvantGo (AVGO): The maker of software for handheld computers and wireless phones sold 5.5 million shares in an initial public offering priced at $12 each, raising $66 million. The company will begin trading on the Nasdaq today under the ticker symbol "AVGO."
Lernout & Hauspie Speech Products (LHSP): The maker of speech recognition software said it expects to have a third-quarter loss before goodwill amortization. Last week the Belgian company said the Securities and Exchange Commission is investigating its financial statements. Shares of Lernout & Hauspie fell $2.19 to $11.81.
Microsoft (MSFT): Yesterday, the Supreme Court sent Microsoft's antitrust case back to a lower court for review, a move seen as advantageous to the software giant. Shares of Microsoft fell 50 cents to $62.06.
M-Wave (MWAV): The maker of printed circuit boards today said it expects third-quarter earnings of 45 cents to 50 cents a share, compared with earning 33 cents per share in the second quarter. Shares of M-Wave rose $6 to $23.
Parlex (PRLX): The maker of electronic components said it expects its first quarter net income to be "considerably below" the prior quarter. Parlex said it expects revenues to fall "slightly below" the $31.8 million revenue last quarter. Shares of Parlex fell $8.91 to $16.06.
Priceline (PCLN): The online retailer that lets buyers name their own price, today said its third-quarter revenues would fall short of expectations because of slumping airline ticket sales. Priceline is expecting revenues of $340 million to $345 million, compared with analyst forecasts of $360 million to $380 million. Shares of Priceline fell $7.63 to $11.
3Com (COMS): The maker of computer networking equipment reported a narrower-than-expected loss and fiscal first quarter sales that beat forecasts. 3COM reported sales of $933.8 million, well above the forecast of $775 million to $825 million. Excluding acquisition and reorganization costs, the company lost 12 cents a share, far better than the expected 33 cents estimated by analysts polled by First Call/Thomson Financial. Shares of 3Com rose $3.25 to $17.19.