Monday's Tech Winners & Loses

Shares of Symbol Technologies(SBL Quote - Cramer on SBL - Stock Picks) were among technology's winners Monday, climbing 14% after The Wall Street Journal reported that the radio-frequency identification concern is nearing a company sale.

The newspaper, citing people familiar with the matter, said that Symbol could fetch about $15 a share, an 18% premium over Friday's closing price of $12.71. The Journal said Motorola (MOT Quote - Cramer on MOT - Stock Picks) is a likely buyer. The report, published Saturday, said that final talks could still fall apart. Symbol shares, which had been roughly flat for the year, recently were trading up $1.77 to $14.48.

Applied Materials(AMAT Quote - Cramer on AMAT - Stock Picks) rose 3% after the chip-equipment maker said it bought some 145 million shares of stock for about $2.5 billion. The buyback, along with the repurchase of almost 9 million shares during its current quarter, represents a reduction of 10% of Applied Materials' outstanding stock at the end of its third quarter.

The company also announced a new $5 billion repurchase plan, which will take place over the next three years. "Applied Materials has delivered increased value to our stockholders through growth of revenue and earnings, as well as our stock repurchase program and payment of quarterly dividends," the company said. Shares were trading up 57 cents to $17.77.

Shares of Commonwealth Telephone(CTCO Quote - Cramer on CTCO - Stock Picks) rose 5% after the provider of telephone services agreed to be acquired by Citizens Communications(CZN Quote - Cramer on CZN - Stock Picks) for $1.16 billion. Citizens will pay cash and stock totaling $41.72 a share, an 8% premium to Friday's closing price of $38.52. The sale comes just a week after Commonwealth said it hired a financial adviser to help it review strategic opportunities. The deal is expected to close by mid-2007. Shares of Commonwealth were trading up $2.19 to $40.71, while Citizens shed a penny to $13.54.

« Previous Page

1 2

Next Page »