Monday's Tech Winners & Losers
Shares of Netsmart Technologies (NTST) were among technology's winners Monday, jumping 9% after the software company agreed to be acquired by two private equity firms for about $115 million.
Insight Venture Partners and Bessemer Venture Partners will pay $16.50 a share in cash for Netsmart, representing a 12% premium over Friday's closing price of $14.70. The deal is expected to close in early 2007. "We believe this transaction will enable us to better scale for anticipated growth, both organically and by acquisition, and will provide us with easier access to capital for new product development and technology innovations to better serve our customers," Netsmart said. Shares were trading up $1.39 to $16.09.
PacificNet (PACT) tumbled 19% after the IT-services company said it swung to a third-quarter loss and slashed its full-year guidance. For the third quarter, the company recorded a loss of $1.1 million, or 10 cents a share, compared with a year-earlier profit of $611,000, or 5 cents a share. Revenue rose to $12.9 million from $11 million.
Looking ahead, PacificNet now sees full-year earnings of $1 million to $1.2 million, with revenue of $60 million to $65 million. Previously, the company predicted earnings of $3.9 million to $4.3 million and revenue of $74 million to $77 million. Shares were trading down $1.20 to $5.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV