Tech Stocks in Motion
SpatiaLight (HDTV) jumped 11% after the maker of liquid crystal on silicon microdisplays agreed to sell 1.3 million shares in a private placement. The company expects to sell the shares for $2.62 apiece, resulting in gross proceeds of about $3.4 million. "This capital infusion will further enable our execution of ramp up in manufacturing of our 1080p LcoS sets at this exciting time," SpatiaLight said. Shares recently were up 29 cents to $2.90.
Shares of Advanced Micro Devices (AMD) slipped 4% after Deutsche Bank downgraded shares of the company to sell from hold. The firm expects increased competition from Intel (INTC) to slow the company's momentum after the fourth quarter. Deutsche Bank slapped a 12-month price target of $26 on the stock. AMD shares were trading down $1.43 to $33.92.
Other technology movers Friday included Sun Microsystems (SUNW), up 35 cents to $4.75; JDSU (JDSU), up 17 cents to $2.96; Sirius Satellite Radio (SIRI), up 8 cents to $6.28; Cisco (CSCO), unchanged at $19.20; Applied Materials (AMAT), down 65 cents to $20.17; Microsoft (MSFT), down 1 cent to $27.13; Conexant Systems (CNXT), down 8 cents to $3.21; Intel (INTC), up 2 cents to $25.99; Apple Computer (AAPL), up 81 cents to $85.10; and Oracle (ORCL), down 9 cents to $12.43.
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