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
TheStreet Open House

Friday's Winners & Losers: Medis Tech

Chinese web company Sohu.com (SOHU) shed $11.34, or 13.6%, to $71.96 after the company said the upcoming Olympics in Beijing would be a huge driver for online advertising but ad revenue growth could slow in 2009. This fiscal year, Sohu expects online ad revenue to grow 40%-45% and fall to about 20% to 30% in 2009.

Getting absolutely pummeled in trading action today, Medis Tech (MDTL) was losing 26.8%, dropping to $3.66. The New York-based firm, which designs, develops, and markets liquid fuel cell products geared toward consumer electronics, agreed to sell $29 million in securities.

Yahoo! (YHOO) fell 74 cents, or 3.3%, to $21.99 following reports that more senior executives are leaving the company after a failed acquisition bid for the company by Microsoft (MSFT). The Wall Street Journal also reported that Yahoo! is considering merging its mail, search and home-page divisions into one centralized unit.

Shares of SanDisk (SNDK) fell $2.29, or 9.8%, to $21.15 after a Citigroup analyst cut his rating on the stock to hold from buy and reduced the price target on the stock to $27 from $35. With demand in Asia slowing down, analyst Craig Ellis expects lower product growth in the second half of the year.

Highflying ShengdaTech (SDTH) was rising 15.9% to $9.57. The China chemicals company outlined plans to acquire a state-owned chemical company, and Shengda will relocate its existing chemical operations. This move is expected to strengthen ShengdaTech's position in the chemical sector.

This article was written by a staff member of TheStreet.com.

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,084.03 -88.65 -0.52%
S&P 500 1,985.60 -8.69 -0.44%
NASDAQ 4,513.7970 -13.8920 -0.31%

Brokerage Partners

Rates from Bankrate.com

  • 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