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Biggest Technology Losers were DELL, LOGM, ADCT : by Penny Stock Pick alert

Penny Stock Pick alert reports that Dell Inc., LogMeIn, Inc. and ADC Telecommunications today were Biggest Technology Losers.

 



(EMAILWIRE.COM, November 21, 2009 ) Dallas, TX - Dell Inc. (NASDAQ:DELL) went down 9.96% to $14.29 after the company yesterday announced that for the fourth quarter of 2010, it expects revenue to improve over the third quarter. The Company reported revenue of $12.896 billion in the third quarter of 2010. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $13.584 billion for the fourth quarter of 2010.

LogMeIn, Inc. (NASDAQ:LOGM) plunged 9.95% to $17.55 after the company yesterday announced that it has priced 3,125,000 shares of its common stock at $18.50 per share in a secondary public offering. 99,778 shares are being offered by the Company and 3,025,222 are being offered by selling stockholders. In addition, the underwriters have a 30-day option to purchase up to 468,750 additional shares of common stock from certain selling stockholders to cover over-allotments, if any.

ADC Telecommunications (NASDAQ:ADCT) declined 10.99% to $5.91 on over 18.25 million shares after the company said on Thursday it lost $19.2 million in a shortened fourth quarter marked by accounting charges. Its shares fell sharply in after-hours trading as its guidance came in below analyst expectations. The company said it expects sales of $250 million to $275 million during its first quarter, which will run four months and end Jan. 1, 2010. It expects to lose 15 cents to 5 cents per share. That would include a non-cash amortization expense of 5 cents per share.

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