This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tech Stocks in Motion

Updated from 2:16 p.m. EDT

Shares of Alliance Data Systems (ADS - Get Report) traded up 3.06% after it announced that its board approved a stock repurchase program for up to $80 million worth of common shares over the next 12 months. The company said it will make purchases in both the open market and private transactions. The stock closed up $1.09 to $36.70.

Shares of XM Satellite Radio (XMSR) were down 1.63% after the company sold 9.7 million new shares in a public offering underwritten by UBS, which resulted in gross proceeds of $300 million. The company said it will use the proceeds for working capital and general corporate purposes. The closing offering is expected to end on June 14. The stock traded down 52 cents to $31.31.

ITT Industries (ITT - Get Report) traded up 1.24% after the company said it expects second-quarter earnings to come in the high end of its previous guidance of $1.28 to $1.32 a share. "We are pleased with the continued growth in our water/wastewater business and our defense segment," said Ed Williams, chief financial officer at ITT. The stock closed up $1.16 cents to $94.73.

UTi Worldwide (UTIW - Get Report) fell 7.27% after the company said it earned $17.8 million, or 55 cents a share, for the first quarter ended April 30, compared with $12.8 million, or 40 cents a share, a year ago. Net revenue for the quarter was $221 million, while gross revenue was $630.2 million. Analysts expected a profit of 55 cents a share. The company said both gross and net revenue were driven by last year's acquisition of International Healthcare Distributors in South Africa and Unigistix in Canada. The stock ended the day down $5.27 to $67.25.

Shares of Altair Nanotechnolgies (ALTI) rose 3.97% after Advanced Battery Technologies (ABAT) announced the successful completion of phase I tests utilizing Altair's Lithium Titanate Spinel Electrode Nanomaterials in its PLI batteries. The results showed significant improvement in recharge time to just 30 to 45 minutes, compared with a recharge time of 3 to 3.5 hours for existing PLI batteries. Shares of Advanced Battery traded up 4 cents, or 2.29%, to $1.79. Altair traded up 11 cents to $2.88.

Other tech stocks on the move were Applied Materials (AMAT), up 51 cents to $17.40; Cisco Systems (CSCO - Get Report), up 6 cents to $19.47; Research In Motion (RIMM), down $3.89 to $73.55; and Google (GOOG), up $6.75 to $286.31.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
ABAT $0.34 0.00%
ALTI $0.55 0.00%
ADS $294.67 0.00%
CSCO $27.92 0.00%
ITT $40.83 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs