This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tuesday's Tech Winners & Losers

Shares of Take-Two Interactive (TTWO) 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) slumped 14% after the company agreed to buy Intel's (INTC) 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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs