Top 5 Technology Underdogs on July 13th (CVLT, MTLK, IFLG, OBAS, CHYR)

July 14th, 2010 at 3:30 am Posted by

The Dean would like to bring attention to 5 technology stocks that were deep in red on July 13, 2010:

CVLT
CommVault Systems Inc. (NASDAQ:CVLT), which provides data storage and information management applications, dived 21.82% on July 13, to close at $18.35. The trading volume was exceptionally robust, representing a multiple of 10 times the average daily trading volumes over the past three months. The decline in CVLT prices is a result of the announcement that preliminary first-quarter revenues and earnings would decline sequentially and would analysts’ estimates. Stifel Nicolaus downgraded its rating on CVLT from buy to hold.

MTLK
Shares of Metalink Ltd. (NASDAQ:MTLK) recorded the second biggest decline among technology stocks. This manufacturer and marketer of wireless LAN chipsets and broadband access chipsets used in telecommunications and network equipment took a hit of some %15.53 in heavy trading on Tuesday. MTLK shares closed at $0.87 a share remain 61.2% below the level at the beginning of this year. The poor performance today contradicts the buoyant activity last week when shares of MTLK surged on the positive report of the company’s first quarter 2010 results.

IFLG
Following their 27.71% jump on Monday, shares of InfoLogix, Inc. (NASDAQ:IFLG) plunged 12.64% to close at $5.39. Shares of this provider of enterprise mobility solutions used by the healthcare and commercial industries were traded on the relatively light volume of 1.16 million shares, below the average of 1.14 million shares. Taking into consideration developments over the past several days, IFLG shares are still up on the month by nearly 50%.

OBAS
Optibase Ltd. (NASDAQ:OBAS) is a $19.84 million company engaged in the manufacturing and sale of equipment used in broadband IPTV video applications. Its shares fell 11.11% in a subpar trading session to close at $1.20 a share. OBAS shares are down nearly 10% from the beginning of the year. The company has just released its 2009 consolidated financial statements on the Form 20-F.

CHYR
Chyron Corporation (NASDAQ:CHYR), which supplies graphics and workflow solutions to the broadcasting and multimedia sectors, dropped 9.37% to close at $1.74 a share. CHYR is now trading on a bearish momentum below its 50-day exponential moving average. The company’s CEO recently sold small amount of CHYR stock.