STOCKWATCH

S3 shares rise

Shares in graphics chip designer S3 rose nearly 24 per cent to $11.25 on Nasdaq after it announced that it will exceed market expectations for its second quarter when the results are announced on 15 July. S3 was anticipated to lose about 20 cents a share, but now expects to either break even or make 5 cents a share.

Seagate

Seagate Technology followed in the footsteps of its disk drive rivals Western Digital, Maxtor and Quantum by issuing a profit warning for its fourth quarter, ended 2 July. The previously anticipated profits of 45 cents a share has now been revised to between 32 and 37 cents per share. Like its competitors, Seagate blamed low demand and severe price competition for the low results. Shares in Seagate have fallen $2.6875 to $26.9375 on the New York Stock Exchange following the warning.

Komag

Hard disk drive manufacturer Komag is feeling the effects from the troubles in the disk drive industry and will report a worse than the expected 55 cents - a share second-quarter loss. The company also announced that it would shed 400 workers and close two manufacturing plants and a test facility.

iSoft

iSoft, application systems provider to hospitals and healthcare organisations, reported a turnover of £11.1 million for the year ended 30 April, an increase of 92 per cent on the same period last year, when it traded under the KPMG Health Systems name.