Monday's Tech Winners & Losers
Tech stocks were mostly unchanged Monday as investors waited for the first-quarter earnings results this week of major players such as
Intel
(INTC) - Get Report
,
AMD
(AMD) - Get Report
and
eBay
(EBAY) - Get Report
.
Shares of
Circuit City
(CC) - Get Report
gained $1.17, or 30%, to $5.07 after movies rental giant
Blockbuster
( BBI) made an unsolicited
bid for the electronics retailer. Blockbuster is offering $6 to $8 a share to Circuit City shareholders.
Blockbuster shares were down 44 cents, or 14.1%, to $2.68 on the news.
Online gaming company
The9
(NCTY) - Get Report
gained $1.15, or 6.1%, to $19.90. The company said it expanded its original license agreement in mainland China with
Vivendi's
Blizzard Entertainment to include the rollout of the second expansion pack for Blizzard's blockbuster
World of Warcraft
game.
eBay
(EBAY) - Get Report
gained 64 cents, or 2.1%, to $31.51 after analysts offered a bullish take on the company ahead of its first-quarter results on Wednesday.
An analyst at Piper Jaffray reiterated his buy rating on the stock and raised the price target for a share to $40 from $34. The analyst also increased his financial estimates for the company's first quarter to $2.16 billion in revenue and EPS of 42 cents, from his earlier outlook of $2.05 billion in revenue and 40 cents EPS.
Thomson First Call consensus estimates peg eBay's first-quarter revenue at $2.07 billion and EPS of 39 cents.
Chip maker
Nvidia
(NVDA) - Get Report
continued to lose ground following the company's analysts day meeting Thursday.
Nvidia told analysts that it could lose some market share in the processor chip business even as a Goldman Sachs analyst said later in a research note that the company's
could lead to a weak guidance for the second quarter. Shares of Nvidia were off 56 cents, or 3%, to $17.98.
Intel
(INTC) - Get Report
shed 36 cents, or 1.7%, to $20.88, a day ahead of the company's first-quarter report. Analysts expect Intel to post EPS of 25 cents on revenue of $9.62 billion, compared with 27 cents a share on revenue of $8.85 billion the year before.
Business software provider
Salesforce.com
(CRM) - Get Report
shed 71 cents, or 1.1%, to $60.45 though the company said it
will partner
with
(GOOG) - Get Report
to integrate Google Apps with Salesforce.com's online CRM software.
Meanwhile,
Microsoft
(MSFT) - Get Report
announced that it will get into the market as it prepared to release its CRM Online subscription-based software. The move could mean that Salesforce.com could go up against Microsoft in some sales situations, said an analyst Friday. Shares of Microsoft were down 3 cents, or 0.1%, to $28.25.