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Tech Industry

STOCKS TO WATCH: Avnet, Internet America, Network Appliance and Tech Data

    Expect the following technology stocks to be among Wednesday's most actively traded issues: Avnet, Internet America, Network Appliance and Tech Data.

  • Avnet (NYSE: AVT)

    Avnet will be active after it announced its first stock split in more than 17 years.

    The distributor of semiconductors, electronic components and computer products said a 2-for-1 split will take effect on Sept. 28 for all shareholders of record on Sept. 18.

    In its latest quarter, Avnet earned $66.5 million, or $1.48 a share, on sales of $2.7 billion.

    First Call Corp. consensus expects Avnet to earn $1.47 a share in its first quarter and $6.36 a share in the fiscal year.

    Its shares closed up 5/16 to 15 3/8 Tuesday.

  • Internet America (Nasdaq: GEEK)

    Internet America investors are hoping the appointment of Jack Smith, a board member, to the ISP's top post will ignite the stock Wednesday.

    Smith replaces Mike Maples, who will remain with the company as a consultant.

    Its shares inched up 3/16 to 4 ahead of the announcement.

    "Jack brings a wealth of management experience to the challenge of leading Internet America during a dramatic strategic shift from consumer dial-up services to providing integrated broadband services," said Chairman William Hunt said in a prepared release.

    Its shares closed up 3/16 to 4 Tuesday.

    Last quarter, Internet America met analysts' estimates when it posted a loss of $4 million, or 41 cents a share, on sales of $8.2 million.

  • Network Appliance (Nasdaq: NTAP)

    Network Appliance shares will be active Wednesday after it said it will acquire privately held WebManage Technologies, a developer of content distribution software, for $75 million in stock and cash.

    Company officials said the deal will close sometime in this quarter.

    WebManage, based in Chelmsford, Mass., develops software that distributes content between various points on the Internet and enables organizations to plan, manage, and deliver predictable Internet and intranet services.

    Its shares closed off 2 9/16 to 112 15/16.

    "The acquisition of WebManage ushers in a new era for Network Appliance," CEO Dan Warmenhoven said in a prepared release. "We are leveraging our leadership in network attached storage and content delivery to redefine enterprise data infrastructure development."

  • Tech Data (Nasdaq: TECD)

    Tech Data shares should move higher Wednesday after it hurdled analysts' estimates in its second quarter Tuesday, raking in $40.8 million, or 72 cents a share, on sales of $5 billion.

    First Call Corp. consensus expected it to return a profit of 67 cents a share in the quarter.

    Ahead of the earnings report, its shares shaved off 1 13/16 to 52 1/2.

    The $5 billion in sales marks a 24 percent improvement from the year-ago quarter when it earned $29.4 million, or 54 cents a share, on sales of $4 billion.

    Systems sales increased 37 percent in the quarter, while peripherals and networking sales increased 27 percent and 26 percent, respectively.