This Day On The Street
Continue to site
ADVERTISEMENT
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

Friday's Tech Winners & Losers

Tech stocks slid modestly Friday, despite soaring buyout targets 3Com (COMS) and Travelzoo (TZOO - Get Report).

3Com soared 34.2% after Bain Capital and China's Huawei Technologies agreed to buy the telecom-equipment maker for $2.2 billion. The offer of $5.30 a share represents a 44% premium over 3Com's $3.68 closing price Thursday. As part of the deal, affiliates of Huawei Technologies will take a minority stake in 3Com and become commercial and strategic partners, the company said. Shares gained $1.26 to $4.94.

Travelzoo shares jumped 15.4%, after rumors surfaced that Priceline.com (PCLN - Get Report) was interested in buying the online travel site, according to Reuters. Shares peaked at $24.97 in late afternoon, before retreating to $22.95, a gain of $3.06.

Priceline was down $1.10, or 1.2%, to $88.75.

Nasdaq 100 component Logitech (LOGI - Get Report), which makes computer peripherals, was up 3.3% to $29.55. The index was down 5.28 points to 2091.11.

Alcatel-Lucent (ALU - Get Report) was up 4.4%, after a French paper reported CEO Pat Russo was under pressure to pick up its performance. Shares gained 43 cents to $10.18.

On the down side, Big Band Networks (BBND) plummeted 29.4%, after the communications-equipment maker offered a dismal third-quarter outlook that moved two analysts to downgrade.

The company sees sales of between $35 million and $39 million, $19 million below its prior forecast. Analysts polled by Thomson Financial expect revenue of $56 million. Morgan Keegan lowered its rating to market perform, from outperform, while Jefferies downgraded to hold from buy. Shares were sliding $2.67 to $6.40.

Data storage supplier Network Appliance (NTAP - Get Report) also was sliding 71 cents, or 2.6%, to $26.91.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG
ALU $3.88 0.00%
LOGI $14.18 0.00%
NTAP $35.97 0.00%
PCLN $1,187.53 0.00%
TZOO $12.99 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs