Tech Stocks in Motion

Updated from 1:07 p.m. EDT

Shares of Travelzoo(TZOO Quote) were among the best-performing technology stocks Monday after the company said the Nasdaq approved the company for national market listing.

The online travel company, which trades on the Nasdaq SmallCap market, said that it would move on Wednesday. Shares of Travelzoo traded up $7.34, or 28.3%, to $33.32.

Tessco Technologies(TESS Quote) fell after the company said that its relationship with T-Mobile would change beginning next year. T-Mobile notified Tessco late Friday of its intention to change to a new business model that would involve doing business with a third-party logistics provider. Tessco believes that its relationship with T-Mobile will not change substantially until at least March 31, 2005.

"Tessco is currently unable to predict the impact, the terms of, or exactly how long the transition will take or what it will involve, or the actual date of termination of the relationship," it said. Shares of Tessco Technologies traded down $1.15, or 9.8%, to $10.60.

Shares of Gateway(GTW Quote) rose after the company said that it would start selling its desktop computers through CompUSA beginning later this week. Gateway computers will be sold across CompUSA's entire retail network of 226 stores as well as through CompUSA's Web site. Shares of Gateway traded up 33 cents, or 8.7%, to $4.11.

UTStarcom(UTSI Quote) rose modestly after it filed its quarterly report with the Securities and Exchange Commission. Last week, the wireless communications equipment company delayed its quarterly filing after a second-quarter review turned up a $1.9 million equipment sale that should not have been recorded as revenue.

As a result of the inquiry, the company requested a five-day extension for its 10-Q filing. The 10-Q filed today did not result in a change to revenue because the $1.9 million in question was not included in the company's second-quarter results, but it did result in the company revising its gross margins up to 25.6% from 25.4% and an increase in earnings to 33 cents a share from earnings of 32 cents a share.

As a result of its ongoing review of its internal controls, UTStarcom said that it "cannot be certain that it will be able to comply with requirements of section 404" of the Sarbanes-Oxley Act by Dec. 31, which requires management to certify that its financial results are not fraudulent. Shares of UTStarcom traded up 27 cents, or 1.8%, to $15.27.

Other technology volume leaders included Intel(INTC Quote), down 14 cents to $21.42; Microsoft (MSFT Quote), up 7 cents to $27.09; Cisco(CSCO Quote), up 37 cents to $18.23; Sirius Satellite Radio(SIRI Quote), up 4 cents to $2.22; Oracle(ORCL Quote); and Lucent(LU Quote), up 11 cents to $2.85.