Tuesday's Tech Winners & Losers

Shares of Brightpoint(CELL) were among technology's winners Tuesday, jumping 13% after the mobile-phone distributor agreed to acquire Denmark-based Dangaard Telecom A/S.

Brightpoint will issue 30 million shares of its stock and pay $100,000 to Dangaard. "This transaction will join together two of the most prominent players in the wireless handset distribution and logistics industry to create the true global leader," Brightpoint said.

Combined, the two companies would have had pro forma revenue of about $4.6 billion and operating income of $106 million in 2006. The acquisition is expected to close in June or July. Shares of Brightpoint were trading up $1.35 to $11.63.

Sirius Satellite Radio (SIRI) and XM Satellite Radio (XMSR) each were climbing after the companies announced plans to merge. The deal gives XM shareholders 4.6 Sirius shares for each XM share outstanding. As announced, the transaction is worth $4.57 billion, a 22% premium to Friday's closing prices.

XM shares recently were up $1.54, or 11%, to $15.51, while Sirius shares were adding 26 cents, or 7%, to $3.96. Still, the stocks were trading below the indicated value of the deal because of the possibility of regulatory concerns.

Shares of SanDisk(SNDK) rose modestly after the flash memory supplier announced job cuts and price reductions. SanDisk plans to cut about 250 jobs, or 10% of its workforce. Most of the job cuts will occur in March. The company also plans to reduce salaries in its executive suite. The company's chief executive, Eli Harari, will take a 20% pay cut, while its president and executive vice presidents will see a 15% drop in pay.

Meanwhile, SanDisk said that it is cutting prices by 30% to 40% on a sequential basis in an effort to maintain market share. The company said gross margins likely will remain under "significant pressure" for several quarters. Shares recently were trading at $40.19, up 6 cents.