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Tech Industry

STOCKS TO WATCH: Ingram Micro, Loudcloud, Priceline

    Expect the following technology stocks to be among Wednesday's most actively traded issues: Ingram Micro, Loudcloud and Priceline.

  • Ingram Micro (NYSE: IM)

    The computer products marketer and distributor will be active Wednesday after it topped analysts' reduced estimates in its first quarter and warned that sales and earnings for its second quarter will fall short of previous estimates.

    In the quarter, Ingram Micro earned $26.4 million, or 18 cents a share, on sales of $7.19 billion.

    Analysts were projecting a profit of 17 cents a share in the quarter.

    In the year-ago quarter, it pocketed $96.1 million, or 65 cents a share, on sales of $7.8 billion.

    Company executives told analysts to prepare for a second-quarter profit of between 7 cents and 12 cents a share, well below the consensus estimate of 19 cents a share.

    Ingram Micro shares gained 58 cents to $15.06 ahead of the earnings report.

  • Loudcloud (Nasdaq: LDCL)

    The Internet infrastructure company will be active Wednesday after announcing it will cut 19 percent of its staff in a cost-cutting move.

    Executives said the layoffs were in part related to the maturation of the company's business, which is built around automating Web site management functions ordinarily performed by individual people.

    "The initiatives that we are announcing today are part of our ongoing efforts so that we prudently manage our cash expenditures," said Ben Horowitz, Loudcloud's chief executive. "We are confident that we can maintain our superior levels of quality and customer service with our planned staffing levels."

    Loudcloud said it will lay off about 122 employees, leaving the company with 507 workers.

    The stock closed up 53 cents to $6.43 Tuesday.

  • Priceline (Nasdaq: PCLN)

    Priceline posted a smaller-than-expected loss in its first quarter even though sales fell 21 percent from the year-ago quarter.

    It posted a net loss of $13.8 million, or 7 cents a share, on sales of $269.7 million.

    Excluding charges, it posted a loss of 3 cents a share, topping the consensus estimate calling for a loss of 3 cents a share.

    In the year-ago quarter, it posted a net loss of $13.6 million, or 8 cents a share, on sales of $341.3 million.

    The company also reaffirmed earlier forecasts for the second quarter with sales expected to rise 10 to 15 percent. It also expects to post a pro-forma profit during the second quarter.

    Priceline shares finished up $1.74 to $6.59 ahead of the earnings report.