Tech Stocks in Motion
Updated from 1:47 p.m. EDT
Shares of ebookers (EBKR) were among the best-performing technology stocks Thursday after the company confirmed that it is in talks to be acquired.
The online-travel company said "it is considering a possible sale of the company, and preliminary discussions are being held in this regard with several interested parties."
The company, which is based in the U.K., said the discussions are at an early stage and may not lead to an offer. Ebookers confirmed the acquisition talks because media speculation was creating movement in its stock. Shares of ebookers traded up $1.53, or 23.4%, to $8.06.InterCept (ICPT) rose after it agreed to be acquired by Fidelity National Financial (FNF), a title insurance company, for about $400 million in cash and stock. Fidelity National will pay InterCept shareholders $18.90 a share, consisting of 75% in cash and 25% in Fidelity National stock. The transaction price represents an 8.3% premium over the bank technology company's share price of $17.45 on Wednesday. The deal is expected to close during the fourth quarter. Shares of InterCept traded up $1.06, or 6.1%, to $18.51. Shares of Fidelity National traded down $1.74, or 4.5%, to $36.72. Shares of Remec (REMC) fell after the company posted second-quarter earnings and sales results that were weaker than expected. Excluding items, the wireless communications company posted a loss of 16 cents a share on sales of $108.8 million. Analysts polled by Thomson First Call were expecting a loss of 7 cents a share on sales of $117.5 million. Shares of Remec traded down $1, or 18.9%, to $4.30. Comverse Technology (CMVT) rose after it posted second-quarter earnings and sales that were better than expected. The maker of multimedia software posted a pro forma profit of 7 cents a share on sales of $233.4 million. Analysts were expecting earnings of 5 cents a share on sales of $227.9 million. The company said that strength across its three major operating units led to the better-than-expected results. Shares of Comverse traded up $1.10, or 6.3%, to $18.60.
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