Winners & Losers

Return to Article

Tuesday's Tech Winners & Losers

TSC Staff

Tech stocks were on the rise in a volatile overall market Tuesday, bolstered by solid runs by stalwarts Apple(AAPL Quote - Cramer on AAPL - Stock Picks) and Garmin(GRMN Quote - Cramer on GRMN - Stock Picks).

Apple shares climbed $5.35, or 4.4%, to $127.57 despite news that Viacom's(VIA Quote - Cramer on VIA - Stock Picks) MTV Networks and RealNetworks(RNWK Quote - Cramer on RNWK - Stock Picks) were teaming to mount a challenge to the iPod maker's dominance in online music sales.

Garmin, the GPS navigation system maker, rose $4.77, or 4.9%, to $102.50.

The Nasdaq 100 index, which includes components Apple and Garmin, gained almost 18 points to about 1911.

Chipmaker LSI(LSI Quote - Cramer on LSI - Stock Picks) also was on the rise, after announcing Monday evening its intention to sell its mobility products business to Infineon Technologies(IFX Quote - Cramer on IFX - Stock Picks) for $450 million. In the same announcement, the company also announced a $500 million stock repurchase plan. LSI shares gained 44 cents, or 7.1%, to $6.62.

Despite the index's rise, several tech players were falling Tuesday.

India-based information technology firm Infosys(INFY Quote - Cramer on INFY - Stock Picks) sank 4.5% amid widening concern about the effect of the credit crisis on financial services companies -- some of the IT sector's primary clients. Infosys also announced it was opening its first Latin American subsidiary in Mexico. Shares fell $2.11 to $44.50.

Oplink Communications(OPLK Quote - Cramer on OPLK - Stock Picks) fell 14.4% after the chipmaker disappointed analysts with its fiscal first-quarter guidance. The company expects to earn between 10 cents and 12 cents per diluted share. Analysts polled by Thomson Financial expect earnings of 26 cents a share. Shares closed down $2.21 to $13.09.

Retalix(RTLX Quote - Cramer on RTLX - Stock Picks) plummeted 15.8% after the Israeli software maker reported mixed earnings results. The company reported a net loss of $1.8 million, or 9 cents a share, compared to $2.9 million, or 15 cents a share, in the year-ago period. The company reported revenue of $55.5 million, compared to $45.9 million last year. Analysts expected a loss of 10 cents a share on revenue of $54.5 million. Shares closed down $2.93 to $15.67.