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PMCS, UIS, MVIS were Top Losers from Technology Stocks

The Top Losers from Technology Sector were PMC-Sierra, Unisys Corporation, Microvision .

 



(EMAILWIRE.COM, October 24, 2009 ) Dallas, TX - PMC-Sierra, Inc. (NASDAQ:PMCS) corrected 7.25% to close at $8.57 on over 14.28 million shares after PMC-Sierra, Inc. announced that for the fourth quarter of 2009, it expects revenue to be in the range of $132 to $140 million. The Company expects fiscal 2009 non-GAAP earnings per share to grow by approximately 11% over fiscal 2008. The Company reported EPS of $0.33 in fiscal 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $135 million for the fourth quarter of 2009; EPS of $0.46 for fiscal 2009.

Unisys Corporation (NYSE:UIS) was one of the most active losers in early trade as it plunges over 6.09% to $2.62 on huge volume of 4.81 million shares after Unisys Corporation today announced that the previously announced one-for-ten reverse split of its common stock will become effective as of 11:59 p.m. tonight and that Unisys shares will trade on a post-split basis beginning on Monday, October 26, 2009 when the market opens. The new CUSIP number for the company’s common stock will be 909214306.

Microvision, Inc. (NASDAQ:MVIS) fell 13.41% to close at $4.39 on huge volume of 1.81 million shares after The company yesterday reported an operating loss for the nine months ended September 30, 2009 of $27.9 million compared to $25.3 million for the same period in 2008 and$9.3 million, for the quarter ended September 30, 2009 compared to $9.0 million for the same period in 2008.

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