Monday's Tech Winners & Losers

Updated from 2:43 p.m. EDT with new stock prices

Tech stocks took a sharp downturn Monday, along with the major market indices, as investors struggled with the worsening credit crisis in the financial services sector.

Shares of BMC Software(BMC Quote) fell $1.99, or 5.9%, to $31.79 after the company said it will acquire data center automation software company BladeLogic(BLOG Quote) for about $800 million, or $28 a share. Shares of BladeLogic soared $3.78, or 16%, to $27.39.

Storage company EMC(EMC Quote) lost 32 cents, or 2.2%, to $14.47 after it raised its offer for its rival Iomega(IOM Quote). EMC offered to pay $3.75 a share for Iomega, higher than its earlier bid of $3.25 a share on March 10. Iomega, which had previously rebuffed EMC's offer, said it is now ready to enter into talks with the company. Shares of Iomega were up 38 cents, or 11.7%, to $3.64.

Video-game retailer GameStop(GME Quote) shed $2.05, or 4.2%, to $47.00, a day ahead of its fourth-quarter results. Analysts are expecting GameStop to report earnings of $1.12 a share on revenue of $2.89 billion.

Adobe(ADBE Quote) hit a 52-week low after it shed $1.82, or 5.6%, to $30.79. Adobe will report its first-quarter results Tuesday. Analysts are expecting revenue of $875.8 million and earnings of 45 cents a share. Meanwhile, a Goldman Sachs analyst reduced his financial estimates for the company and lowered the price target for the stock to $37 from $38 based on the belief that the decline in the macroeconomic environment will take a toll.

Other big names in tech, such as Google(GOOG Quote), Research In Motion(RIMM Quote) and Baidu(BIDU Quote), also felt the pain from the market.

Shares of Google were down $18.05, or 4.1%, to $419.87. The stock is now near its 52-week low of $413.04; Research In Motion was down $3.57, or 3.5%, to $98.12.

Chinese Internet search company Baidu also fell $20.95, or 7.8%, to $247.10.