STOCKS TO WATCH: Broadcom, Iomega, Rambus, Sun Microsystems and theglobe.com
By Larry Barrett ZDII
Expect the following technology stocks to be among Friday's most actively traded issues: Broadcom, Iomega, Rambus, Sun Microsystems and theglobe.com.
Rambus Inc. (Nasdaq: RMBS)
The chipmaker rolled past analysts' estimates in its fourth quarter Thursday, pocketing $2.6 million, or 10 cents a share, on sales of $12.3 million.
First Call consensus expected the Mountain View, Calif. chipmaker to earn 8 cents a share in the quarter.
Its shares closed up 1 9/16 to 72 3/4 ahead of the earnings report.
The $12.3 million in sales marked a 27 percent improvement versus the year-ago period when it earned $2 million, or 7 cents a share, on sales of $9.7 million.
For the fiscal year, Rambus earned $8.7 million, or 35 cents a share, on sales of $43.4 million compared to $6.7 million, or 28 cents a share, on sales of $37.9 million in fiscal 1998.
Rambus shares were pummeled in September after the company confirmed that it was wrestling with programming bugs in memory chipsets it was making for Intel Corp.'s (Nasdaq: INTC) "Camino" chip.
The stock fell from more than $90 a share in late September to less than $60 a share in just a few days.
Rambus shares peaked at 117 1/2 in July after falling to a low of 51 1/2 in April.
First Call consensus expects Rambus to earn 68 cents a share in fiscal 2000.
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