Friday's Tech Winners & Losers
Shares of Systemax (SYX) were among technology's winners Friday, jumping 18% after the computer distributor posted big second-quarter earnings and revenue gains.
For the quarter ended June 30, the company earned $7.1 million, or 19 cents a share, on revenue of $547.2 million. During the year-earlier period, the company earned $1.5 million, or 4 cents a share, on revenue of $506.1 million.
"I am very pleased with our strong operating performance in the second quarter, highlighted by an 8% sales increase and the continued benefits of the cost cutting, streamlining and restructuring actions that we have implemented over the last two years," said Chairman and CEO Richard Leeds in a statement. Systemax shares were trading up $2.13 to $14.25.
Advanced Semiconductor Engineering (ASX) soared 15% after the Taiwan-based company said it has received an "indication of interest" from a group of investors led by the Carlyle Group. The potential offer would be worth $5.94 per American depositary share, or nearly $5.5 billion. The price would represent a premium of 13% over Wednesday's closing price of $5.26.Advanced Semiconductor's chairman, Jason Chang, has agreed to participate as a member of the consortium and to roll the shares of ASE owned by him and his ASE Enterprises holding company into an equity interest in the holding company created by the consortium. Chang and his affiliated holding company own about 18.4% of the shares. Advanced Semiconductor shares were trading up 81 cents to $6.07.
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