This Day On The Street
Continue to site
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

NetLogic Spells Deal Logic, Tech Rally

NEW YORK, ( TheStreet) -- Tech stocks took the Nasdaq on a ride Monday, as Broadcom's (BRCM) $3.7 billion deal for NetLogic (NETL) helped boost M&A prospects for the chip sector.

The deal sent NetLogic up 50%, making it the tech market's biggest winner of the day.

But global financial meltdown fears consumed much of the broader market as French banks and Italian debt became the latest focus for the Chicken Little crowd.

Even with those worries, the Nasdaq finished up 27 points, or 1%, at 2,495.09 Monday.

Winners, in addition to NetLogic included tech giants Apple (AAPL - Get Report), Qualcomm (QCOM), VMware (VMW) and Google (GOOG - Get Report), all up 2% with Google gaining 5% as investors shopped the big names for bargains.

Losers on the day were the network equipment makers Nokia (NOK) Siemens (SI), Alcatel Lucent (ALU), Ericsson (ERIC) - down 2%, 3% and 4% respectively. The big communications equipment shops depend on healthy tech spending in Europe, which is not exactly a stable region at the moment.

--Written by Scott Moritz in New York.

To contact this writer, click here: Scott Moritz, or email:

Follow Scott on Twitter at MoritzDispatch

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BRCM $0.00 0.00%
AAPL $93.84 0.11%
GOOG $698.21 0.75%
FB $117.75 0.14%
TSLA $238.50 -0.94%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs