Fun With Numbers
The stock went up 55 cents (35.5%) to $2.10 during the day. But after-hours, it's down 49 cents (23.3%) to $1.61.
In announcing earnings after the market closed, Conexant said revenues for its first quarter, ending in December, will be $103 million to $108 million. The analysts' consensus at Reuters says $125 million. Oops. (See Conexant Reports Q4.)
Chalk it up to another company seeing a challenging economic environment. Meanwhile, Conexant at least came in on the money with earnings per share at 26 cents, beating the analysts' forecast by a penny after last month's pre-announcement. (See Conexant Raises Outlook.)
The only other big surprise I've noticed in today's glut of earnings reports is Akamai Technologies Inc. (Nasdaq: AKAM), up 13 percent after-hours. That one, I can't immediately explain, but they did beat by a penny.
— Craig Matsumoto, West Coast Editor, Light Reading