Expect the following technology stocks to be among Wednesday's most actively traded issues: Broadcom, Cisco Systems, Lycos, Harbinger, QAD and Western Wireless.
The chipmaker unveiled a new communications integrated circuit that will allow data to get pushed through existing copper lines at 10 times present speeds. Shares rose 8 11/16 to 92 11/16.
Another quarter, another stock split. And so it goes for Cisco Systems, the network-equipment giant that was actually considered a bit suspect in its third quarter.
On Tuesday, it posted a profit of $646 million, or 38 cents a share, on sales of $3.15 billion. First Call consensus expected it to earn 37 cents a share in the quarter.
Cisco also said it will split 2-for-1 for shareholders of record on May 24. This marks the eighth time the stock has split since its initial public offering in 1990.
Third quarter sales rose 44 percent year-over-year from $2.18 billion in the third quarter of 1998. As usual, Cisco credited Internet growth for driving demand for its routing and switching equipment. The company said it increased its market share in switches for local area networks, as well as in Layer 3 switching.
Cisco shares closed up 2 5/8 to 111 7/8 Tuesday.
The e-commerce software developer should skyrocket Wednesday after doubling analysts' estimates in its first quarter.
Harbinger raked in $2.3 million, or 6 cents a share, on sales of $33.5 million, an 11 percent jump versus the $30.1 million it recorded in the year-ago quarter.
First Call consensus expected it to earn 3 cents a share in the quarter.
Although earnings came in stronger than expected, the revenue boost does fall in line with last month's preannouncement, in which Harbinger told investors to expect strong first quarter results.
Harbinger had 38,500 active customers at the end of the first quarter. Internet traffic on Harbinger's e-commerce network increased to 15 percent, from 8 percent in the fourth quarter, as the company continued to shift customers to Web-based commerce.
The stock closed up 3/16 to 12 1/12 ahead of the earnings report.
Nine of the 16 analysts following the stock rate it a "hold."
As if the news surprises anyone, USA Networks Inc. (Nasdaq: USAI) has ended its proposed takeover of the portal, CNBC reported. Formal announcement of the termination is expected later today. Lycos dropped 7 to 98 1/4.
Western Wireless posted a wider-than-expected loss in its first quarter Tuesday, losing $5.2 million, or 7 cents a share, on sales of $115.8 million.
First Call consensus expected the Bellevue, Wash.-based company to lose 3 cents a share in the quarter.
Western Wireless shares closed up 1 1/16 to 24 7/16 ahead of the earnings report.
In the quarter, it grew its cellular subscriber base to 695,000 customers, up 27 percent compared to the year-ago quarter.
In the year-ago quarter, Western Wireless lost $64.1 million, or 84 cents a share, on sales of $90.6 million.
Its shares moved up to a 52-week high of 47 13/16 in April after falling to a low of $14 ? in September.
Nineteen of the 20 analysts following the stock maintain either a "buy" or "strong buy" recommendation.
The software maker warned that it will miss first quarter estimates, citing year-2000 issues taking away from its sales. The First Call Corp. estimate was looking for earnings of 4 cents a share. Shares dipped 1/32 to 3 9/32.
-Eric C. Fleming contributed to this report.
Cisco Systems tops 3Q estimates
Western Wireless misses estimates in 1Q
Harbinger doubles 1Q forecasts