Monday's Winners and Losers: Empire Resorts
NII Holdings (NIHD), which through its subsidiaries including Nextel offers wireless communications services, rose 9.6% after the company named a new CEO and authorized an additional $500 million for a stock repurchase program. NII said Steven Dussek will join the company as CEO effective Feb. 11.
The company also said it exceeded its 2007 guidance for net subscriber additions and has completed its previously announced $500 million share repurchase program. NII was up $4.45 to $51.07.
Business software maker Netsuite (N) continued to trend down and was off $3.63, or 11.5%, to $28.06. The decline comes on the heels of a research note from Pacific Crest last week suggesting that the stock's current valuation leaves "little room for error" in terms of execution.
Netsuite does not target the highest areas of growth in the on-demand software segment and its growth potential is not higher than that of its peers, said the analyst. The stock is now down nearly 35% from its peak shortly after the company's debut on the stock market on Dec. 20.DTS (DTSI), an Agoura Hills, Calif., entertainment technology provider, saw shares leap 12.5% to $27.40 after announcing a new sound technology to be unveiled this week at the 2008 Consumer Electronics Show in Las Vegas. The company will also partner with XStreamHD and Seagate (STX) to provide technology for transmitting high-definition movies and music directly to the home, and Deutsche Securities added more good news by initiating coverage of DTS with a hold rating.
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