Shares of the Internet radio specialist closed up 7.28% to $3.83 during Monday trading, lifted by Liberty Media's (LMCA) recent announcement that it will seek to make Sirius a wholly owned subsidiary.
Groupon (GRPN) shares were flat at $11.89, although the daily deals site was one of the most active premarket Nasdaq stocks on share volume of 1,377,813 . Facebook (FB) shares were creeping up 0.7% to $57.60 on share volume of 868,793.
BlackBerry (BBRY) also was a gainer, rising 0.87% to $8.08 after ending Monday's session up 5.26%. On Monday, the embattled smartphone maker announced that former Sony Ericsson CTO Ron Louks will join the company as president, Devices and Emerging Solutions.Netflix (NFLX) shares were off 2.94% at $359.57 after the company received a downgrade from Morgan Stanley.
"We think heightened competition in US digital video streaming from alternative products could put the Street's long-term domestic sub forecasts for NFLX at risk despite high hopes from investors," wrote Morgan Stanley analyst Scott Devitt, in a note released on Tuesday. Morgan Stanley lowered Netflix to Underweight and reduced its 12-month base case estimateto $310 from $333. Shares of Intel (INTC) rose 0.16% to $25.50. On Monday at CES, the chip giant showed off its designs for wearable devices, which included 'smart' earbuds, as well as collaborations with retailer Barneys New York. Intel CEO Brian Krzanich also unveiled Intel Edison, a Quark-based computer in an SD card form factor. Krzanich also said that the company's McAfee products will transition to a new Intel Security brand.
--Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.
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