Tech Winners & Losers: Yahoo!

Shares of the Internet giant are up on speculation that Carl Icahn may engage in a proxy fight with Yahoo!
By Ivy Lessner ,

SAN FRANCISCO - Tech stocks were up Wednesday on news that activist investor Carl Icahn may be considering a proxy fight against the board of Yahoo! (YHOO) .

Shares of the Internet company were up 45 cents, or 1.7%, to $27.01 on heavy volume. The news also gave

Microsoft

(MSFT) - Get Report

a boost, as investors speculated that the software giant would still be open to a buyout of Yahoo! Microsoft was up 30 cents, or 1%, to $30.08.

Shares of wireless provider

Virgin Mobile USA

(VM)

jumped after the company confirmed it is in deal talks with Korea's SK Telecom. Virgin's shares climbed $1.42, or 46.7%, to $4.46, before falling back to $3.62 in recent trading.

Video-game developer

Electronic Arts

(ERTS)

was off $1.63, or 3%, to $52.94 after the company

forecast weaker-than-expected earnings

Tuesday.

EA reported a net loss of $94 million, or 30 cents a share, in the quarter just ended vs. a loss of $25 million, or 8 cents a share, for the same quarter a year ago. For the current fiscal year, the company said earnings would range from $1.30 to $1.70 a share. Analysts were expecting $1.73 a share.

Shares of

Electronic Data Systems

(EDS)

continued to move higher Wednesday, a day after

Hewlett-Packard

(HPQ) - Get Report

said it will buy the outsourcing company founded by Ross Perot for $13.9 billion. EDS was up 4 cents, or 0.2%, to $24.38 on very heavy volume. H-P was up $2.03, or 4.6%, to $46.30, regaining most of what it lost on Tuesday.

H-P competitor

EMC

(EMC)

was also up 53 cents, or 3.3%, to $16.51.

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