Monday's Tech Winners & Losers
Updated from 2:36 p.m. EDT with new stock prices
Tech stocks were mostly down Monday along with the major market indices as Wall Street grappled with rising oil prices and downbeat news from the financial services sector.
Intel (INTC) rose 5 cents, or 0.3%, to $20.12 after analyst comments about a recovery in the memory chips market. Chip maker Texas Instruments (TXN) is also expected to offer a mid-quarter update that could offer clues to the health of the semiconductors industry.
Shares of Level 3 Communications (LVLT) sank 31 cents, or 14.2%, to $1.87 after company president and chief Operating Officer Kevin O'Hara stepped down, effective immediately. Level 3 also terminated its previously disclosed search for a new CFO, saying incumbent Sunit Patel will continue in the role.Video games publisher Take-Two Interactive (TTWO) was down 72 cents, or 2.8%, to $24.85, a day ahead of the company's first-quarter fiscal 2008 results. Analysts are expecting a loss of 51 cents on revenue of $211.15 million in the quarter. For the second quarter, analyst estimate the company will post revenue of $462.77 million and earnings of $1.02 a share. Shares of VMware (VMW) declined $3.94, or 7.7%, to $47.51, hitting a new 52-week low. The stock is down nearly 40% since Jan. 28, when the company forecast growth of 50% for 2008, down from a 85% growth rate in 2007. VMware has been battling increased competition from companies such as Microsoft (MSFT) and Citrix (CTXS). EMC (EMC) fell 33 cents, or 2.2%, to $14.70 after portable data storage company Iomega (IOM) rejected EMC's $3.25 a share bid for it. Shares of Iomega gained 54 cents, or 20.3%, to $3.20. Google (GOOG) fell $19.73, or 4.6%, to $413.62, hitting a new 52-week low.
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
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
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
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 + 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