Tech Stocks in Motion
XM Satellite Radio (XMSR) rose 0.2% after the company said it surpassed the 4 million-subscriber mark. XM Satellite said it added its most recent 1 million subscribers in less than five months. It took the company 23 months to reach its first 1 million subscribers, eight months to reach the 2 million mark and six months to reach 3 million. The company reiterated its year-end goal of 5.5 million subscribers. Shares traded up 6 cents to $28.32.
Shares of Hyperion (HYSL) rose 0.2% after the company announced a $125 million stock-repurchase plan. The software company said it would use existing cash and short-term investments to fund the repurchase plan. There is no fixed termination date for the buyback plan, the company said. Since July 2003, Hyperion's board has authorized buyback plans totaling $200 million. Its most recent buyback plan, a $75 million repurchase plan announced in May 2004, has largely been completed, Hyperion said. Shares traded down 6 cents to $41.19.
Other technology movers included Cisco Systems (CSCO), up 20 cents to $19.09; Microsoft (MSFT), up 27 cents to $25.49; Intel (INTC), up 21 cents to $25.33; Oracle (ORCL), down 1 cent to $12.35; Lucent Technologies (LU), up 6 cents to $2.86; Sirius Satellite (SIRI), up 13 cents to $5.48; Sun Microsystems (SUNW), up 2 cents to $3.96; and Dell (DELL), up 2 cents to $39.35.
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