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

Updated from 12:36 p.m. EDT

Technology stocks fell along with the wider market Tuesday, despite VMware's (VMW) big opening splash.

VMware, the anticipated software spinoff of storage provider EMC (EMC), soared more than 75% on its first day as a publicly traded company. VMware priced 33 million shares at $29 a share, raising nearly $1 billion. EMC's sale represents about 9% of the 375 million shares of VMware. Citi, JP Morgan and Lehman Brothers led the underwriting syndicate. Shares of VMware closed up $22 to $51, while shares of EMC closed down 71 cents to $18.34.

Elsewhere, Orbcomm (ORBC) plunged 29.7% after the data communications company posted mixed second-quarter results and cut its full-year revenue guidance. The company posted a second-quarter loss of $1.3 million, or 3 cents a share, on revenue of $6.6 million. Analysts expected a loss of 7 cents a share on revenue of $8.1 million.

Looking ahead, Orbcomm now sees full-year revenue of $28 million to $31 million. Previously, the company said that it would post revenue of $34 million to $38 million. Analysts project revenue of $35.1 million. Shares closed down $3.32 to $7.86.

As for the broader technology sector, the Nasdaq 100 was down about 33 points to about 1901.

GigaMedia (GIGM) jumped 10.8% after the software developer posted better-than-expected second-quarter results. The company earned $10.1 million, or 17 cents a share, on revenue of $40.1 million. Analysts polled by Thomson Financial expected earnings of 15 cents a share on revenue of $38 million. "We are beginning to see the early returns from our investment in our Asian online games platform," the company said. "With an exciting pipeline of new games and a footprint reaching over 64 million registered users, we are very enthusiastic, very confident that we have built the foundation of a powerful business." Shares closed up $1.16 to $11.94.

Meanwhile, shares of United Online (UNTD) rose 2.1% after the Internet services company said that its Classmates Media subsidiary would go public, raising up to $125 million. Classmates Media has filed a registration with the Securities and Exchange Commission. United Online said that it would maintain a majority ownership stake following the initial public offering but didn't specify the exact percentage. Goldman Sachs and JP Morgan Securities are leading the underwriting syndicate. Shares of United Online closed up 28 cents to $13.62.

Finally, InterDigital (IDCC) fell 5.2% after the wireless-technology company laid out third-quarter revenue guidance. The company sees recurring revenue for patent licensing and technology solutions of $53.5 million to $54.5 million. Guidance does not reflect any new agreements that could be inked during the quarter, the company said. Investors sent shares down $1.33 to $24.18.

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 18,039.62 -14.09 -0.08%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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