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Tech Industry

STOCKS TO WATCH: ATI Technologies, Cabletron, Liquid Audio, Qualcomm, Visio, and ValueVision

Expect the following technology stocks to be among Friday's most actively traded issues: ATI Technologies, Cabletron, Liquid Audio, Qualcomm, Visio and ValueVision.

  • ATI Technologies Inc. (Nasdaq: ATYT)

    The graphic-chip manufacturer topped analysts' estimates by 2 cents a share in its third quarter Thursday, earning $35.9 million, or 17 cents a share, on sales of $302 million.

    First Call consensus expected the Canadian firm to earn 15 cents a share in the quarter.

    In the year-ago quarter, ATI earned $26.5 million, or 12 cents a share.

    The stock closed off 7/16 to 16 5/16 Thursday.

    The company bought Chromatic Research Inc. in November 1998. As a result it took a charge of $17 million or 8 cents a share, accounting for the amortization of research and development, and other acquisition costs.

    Including those charges, ATI earned 9 cents a share in the quarter..

    The stock surged to a 52-week high of 18 1/2 in February after falling to a low of 9 3/16 in December.

    Five of the six analysts following the stock rate it either a "buy" or "strong buy."

  • Cabletron Systems Inc. (NYSE: CS)

    The network-equipment maker will see some action Friday after Business Week reported that several investment professionals have confirmed it's being eyed as a possible takeover target by a telecom giant.

    "There are several potential buyers" looking closely at Cabletron, Jim Marquez of Bayou Securities said in the Inside Wall Street column of the magazine's July 19 issue.

    Marquez, who said he is accumulating Cabletron shares, said Italy's Alcatel , Germany's Siemens and Canada's Nortel (NYSE: NT) are all looking at Cabletron, Business Week reported.

    The company is worth at least $20 a share, the magazine quoted SG Cowen analyst Chris Stix as saying.

    Cabletron declined to comment to Business Week on the merger talk.

    Cabletron shares are up about 50 percent so far this year, closing at up 1 1/16, or 9 percent, to 13 1/16 Thursday. The stock was trading at a low of 6 5/8 in April.

    Sixteen of the 22 analysts following the stock rate it either a "hold" or a "sell."

  • Liquid Audio (proposed ticker: LQID)

    Liquid Audio priced its 3.6 million-share initial public offering at $15 a share late Thursday, well above its original price range of $10 to $12 a share.

    Earlier Thursday, the company bumped its range to $14 to $15 from $10 to $12, according to lead underwriter Lehman Brothers.

    Liquid Audio, which uses its software to publish and encode music that can be downloaded, is looking to cash in on the buzz around digitally delivered music. Musicmaker.com Inc. (Nasdaq: HITS) gained in its first day of trading Wednesday despite first quarter revenue of only $20,000.

    Liquid Audio's financials are better, but reflect the usual for Internet stocks. For 1998, the company reported sales of $2.8 million and a loss of $8.5 million. For the first quarter, the company lost $4.1 million on sales of $530,000.

  • Qualcomm Inc. (Nasdaq: QCOM)

    The developer of cellular technology is being added to the Standard & Poor's 500 Index on a date yet to be announced.

    Qualcomm shares close Thursday up 2 3/16 to to 142 1/4.

  • Visio Corp. (Nasdaq: VSIO)

    The maker of software for computer-aided drawing warned its third quarter earnings won't meet analyst expectations. Earnings were expected at 35 cents a share, the average estimate of eight analysts polled by First Call. Visio said it expects to earn 29 cents to 30 cents a share in the quarter ended June 30.

    The company blamed delays in closing several large sales for wider-than -expected losses. Shares closed Thursday up 1 1/16 to 38 15/16.

  • ValueVision International Inc. (Nasdaq: VVTV)

    The home shopping network operator said Thursday its stock has been added to the Russell 2000 and 3000 indexes as a result of the company's recent gains in market capitalization.

    The Russell indices allow investors to track current and historical market value performance by specific market segment (large cap/small cap) or investment style (growth/value).

    Earlier this week, ValueVision announced agreements with DIRECTV and EchoStar to increase its reach from 15 million households to about 23 million full-time equivalent subscribers.

    In March, NBC, GE Equity and ValueVision formed an alliance designed to help increase the cable distribution of ValueVision's television home-shopping network and to jointly explore the development of future Internet and electronic commerce projects.

    Its shares closed off 3/4 to 23 15/16 Thursday.