Wednesday's Winners & Losers: 3Com

Networking gear maker 3Com(COMS Quote) lost 61 cents, or 21.4%, to $2.41 after the company said it could not reach a revised buyout agreement with private equity company Bain Capital and Chinese firm Huawei Technologies. The deal had fallen apart after security concerns were raised because of a likely stake of the Chinese company in 3Com.

Nokia(NOK Quote) fell $3.04, or 9.3%, to $29.69 after Sony Ericcson, a joint venture between Sony(SNE Quote) and LM Ericsson(ERIC Quote) warned of a profit shortfall because of a slowdown in the market for cell phones.

Investors feared that Sony Ericsson's announcement could mean problems for Nokia. Sony Ericsson said it will ship 22 million handsets during the quarter, well off estimates that shipments could be as high as 26 million.

Elsewhere, Piper Jaffray analyst Thomas Wei said in a note to investors that recent studies suggest Amylin's (AMLN Quote) long-acting form of diabetes treatment Byetta is as safe as the version already approved. He reiterated his belief that the long-acting version, Byetta LAR, will be more efficacious than the current options. Wei has a buy rating on the stock, which rose 98 cents, or 3.8%, to $26.89.

Wachovia Capital Markets analyst Aaron Reames reiterated an outperform rating with a price target of $43 to $48 for BioMarin(BMRN Quote), noting the uptake of Kuvan, a treatment for phenylketonuria, an inherited metabolic disease. Among other things, the analyst noted that Kuvan has been added to the approved drug list for several large insurers.

Meanwhile, Jefferies & Co. analyst Salveen Kochnover reaffirmed a buy rating for BioMarin with a $45 price target. BioMarin shares rose 72 cents, or 2.2%, to $33.95.

On the losing side, Internap (INAP Quote) shares were fell 33.2% to $4.09 on news of a delayed regulatory filing. The Atlanta company, which offers a suite of network optimization solutions, announced Tuesday after the close it was filling a Form 12b-25, a notification of late filing that extends its March 17 filing deadline for its Form 10-K annual report for 2007. The delay results from requests for customer credits subsequent to year end that will increase its sales return allowance by between $1 million and $2 million. This morning, Merriman Curhan Ford downgraded the stock to neutral from buy.

Shares of financial and entertainment media firm Xinhua Finance Media (XFML Quote) jumped 34.1% to $2.71. The Beijing company announced that two of its Fortune China financial TV programs, "Fortune China Weekly" and "Fortune Celebrity," have added landing coverage to 80 channels across 24 Chinese provinces.