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Apple, Dish Network, Nuance: Tech Winners & Losers

NEW YORK ( TheStreet) -- The tech-heavy Nasdaq outperformed the other major indices Tuesday as Apple ( AAPL ) popped 3.03% to $443.25.

Apple sold $17 billion worth of corporate debt in the largest corporate non-financial bond offering in history, according to Bloomberg. In the six-part offering, Apple will sell debt with maturities starting in 2016, and ending in 2043, according to a regulatory filing.

3D Systems ( DDD ) surged 8.28% to $38.73 after the company posted first-quarter revenue that beat Wall Street estimates, and reaffirmed guidance. Piper Jaffray analyst Troy Jensen noted the 22.1% organic growth signifies "another solid data point that this is a secular growth market and we anticipate the industry can sustain 20%+ growth over the next several years."

IBM ( IBM ) rose 1.36% to $201.82 after the tech giant announced at its annual stockholders' meeting in Huntsville, Ala. a huge cash return to shareholders, increasing its quarterly dividend by 12%, and authorizing an additional $5 billion in share buybacks.

Sirius XM (SIRI) advanced 5.54% to $3.24 open despite the company's first-quarter miss. Sirius added 453,000 subscribers in the quarter to reach a record 24.4 million and reiterated its 2013 revenue guidance of over $3.7 billion. The company also announced the appointment of James Meyer as its CEO. Meyer had served as interim CEO since December, replacing Mel Karmazin.

Shares of semiconductor specialist Anadigics (ANAD), which reported its first-quarter results before market open, rose 6.09% to $2.09.

Some stocks bucked the general upward momentum of tech stocks Tuesday.

Nuance Communications (NUAN - Get Report) plunged 18.76% to $18.93 on weaker-than-expected results. The Apple supplier reported second-quarter sales of $451 million, up from $390.3 million in the year-ago quarter. Excluding items, Nuance reported revenue of $484 million. Analysts surveyed by Yahoo! Finance were looking for revenue of $516.53 million. Excluding items, the Burlington, Mass.-based firm earned 34 cents a share, down from 43 cents a share in the prior year's quarter, below analysts' prediction of 40 cents.

Sprint Nextel ( S ) slipped 1.19% to $7.03 after the chief executive officer of Japanese telecommunications company SoftBank, Masayoshi Son on Tuesday said he wasn't budging on his $20 billion offer for the third largest U.S. mobile operator even after Dish Network ( DISH ) came up with a $25.5 billion proposal. Dish fell 3.3% to $39.22 as Son expressed confidence that his offer will win out. Meanwhile Dish said in a statement that it remained confident that the terms of its bid are superior to SoftBank's.

Written by Andrea Tse in New York

>To contact the writer of this article, click here: Andrea Tse.

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AAPL $94.28 0.68%
DDD $15.74 -5.10%
DISH $47.63 -2.60%
NUAN $16.78 -2.00%
FB $117.58 -0.83%


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NASDAQ 4,760.6130 -56.9810 -1.18%

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