This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Tech Winners & Losers: Motorola

Tech stocks were mostly in the red Monday though Motorola (MOT) bucked the trend after it announced a new head of its mobile devices business.

Shares of Motorola jumped 90 cents, or 10.3%, to $9.72 after the company named a former Qualcomm (QCOM - Get Report) executive Sanjay Jha as head of its handset business.

The move is seen as a significant step towards spinning off the division into a separate public company. Motorola is currently working to split its operations into two separate publicly traded companies following significant shareholder pressure including that from activist investor Carl Icahn.

Shares of Qualcomm dipped $1.80, or $3.2%, to $53.67 following the news. Jha, the new chief at Motorola's handset business, was the chief operating officer for Qualcomm.

Satellite service provider Echostar (SATS) gained 65 cents, or 2%, to $32.65 after it reported a second-quarter profit as sales rose 46% to $483.3 million. The company posted net income of $48 million, or 53 cents a share, for the quarter, compared with a net loss of $15 million, or 16 cents a share, a year ago.

Dish Network (DISH - Get Report) fell $1.77, or 6.1%, to $27.19 after it reported a greater-than-expected drop in subscribers. Dish said it lost 25,000 subscribers during the second quarter. Analysts polled by Reuters were expecting the company to add 72,000 subscribers during the quarter.

Nortel Networks (NT) fell 38 cents, or 5.8%, to $6.14. The company posted a higher loss on Friday for the second quarter and said the current fiscal could be difficult one. Nortel posted a loss of $113 million, or 23 cents a share, compared with a loss of $37 million, or 7 cents a share, a year ago. Revenue rose 2.3% to $2.62 billion. An analyst at Jeffries downgraded the stock Monday to hold from buy.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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
DISH $75.60 -0.33%
QCOM $70.84 -0.78%
AAPL $128.54 -0.63%
FB $80.90 1.63%
GOOG $573.37 -0.05%

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

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