Tech Winners & Losers: Verizon
Tech stocks dug themselves out of the red on Monday, only to slip again by midafternoon.
The Nasdaq lost 5 points, or 0.3%, to 1548 in recent trading.
The stock was up 12.7% to $28.27.Shares of Juniper Networks (JNPR) were up 6.6% to $17.59 after Oppenheimer upgraded the stock to outperform from perform. The stock had tumbled last week after the networking equipment maker offered a cautious outlook for the rest of the year. ASML (ASML) shares were climbing 3.1% to $16.16 after Goldman Sachs raised its rating to buy from neutral. The firm said the company has strong positioning against its competitors and that the semiconductor equipment maker's business model has improved since the last downturn. German software maker SAP (SAP) saw its shares fall ahead of its earnings on Tuesday. The stock was down 5% to $30.94. The company had pre-announced weak results earlier this month, with CEO Henning Kagermann issuing a statement noting "a very sudden and unexpected drop in business activity at the end of the quarter." Shares of rural telephone company CenturyTel (CTL) plunged 11.4% to $26.14 after it agreed to acquire Embarq (EQ) for $11.6 billion in stock and the assumption of debt. Under the deal's terms, each share of Embarq would be exchanged for 1.37 shares of CenturyTel -- a 36% premium over Friday's closing price. The deal also assumes $5.8 billion in debt.
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
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
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
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 Plus 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