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

Tuesday's Tech Winners & Losers

Shares of Take-Two Interactive (TTWO - Get Report) were among technology's losers Tuesday, plunging 18% after the software company received grand jury subpoenas from the District Attorney of New York County.

The subpoenas, which the company received June 19, seek documents covering periods as far back as October 2001. Take-Two said the documentation relates to a host of items, including the knowledge of the company's officers and directors regarding the creation of hidden scenes in the company's Grand Theft Auto: San Andreas, the submission of the game to the Entertainment Software Rating Board for a rating and the company's disclosures about the hidden scenes.

The subpoenas also seek information pertaining to disclosures and presentations by the company of certain events, including acquisitions, partnering arrangements and earnings results, Take-Two said. What's more, the district attorney also wants information related to Take-Two's invoices from, payments to, and termination of its former auditor, PricewaterhouseCoopers.

Take-Two said it's not been made aware of whether it or any specific individual is a target of the investigation. Meanwhile, the company said it's cooperating and providing all documentation requested. Shares were recently trading down $2.28 to $10.59.

Marvell Technology Group (MRVL - Get Report) slumped 14% after the company agreed to buy Intel's (INTC - Get Report) communications and application processor business for $600 million in cash. Intel has an option to receive $100 million of its compensation in Marvell stock.

"The planned sale will give Marvell a strong presence in the growing market segment for processors used in smart handheld devices," Marvell said in a press release. The acquisition is expected to close in four to five months. Shares of Marvell were trading down $7.28 to $44.62, while shares of Intel fell 4 cents to $18.24.

InFocus (INFS) slid 17% after the maker of digital projectors warned that second-quarter revenue would fall short of expectations. The company said revenue would be less than the $112 million it reported during the first quarter. Analysts polled by Thomson First Call project second-quarter revenue of $122.1 million.
1 of 2

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
INTC $34.46 0.00%
MRVL $8.74 0.00%
SIRI $4.14 0.00%
TTWO $35.69 0.00%
AAPL $117.81 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs