Tuesday's Tech Winners & Losers
Updated from 2:19 p.m. EDT with new stock prices
Tech stocks surged Tuesday along with the major market indices as investors bet that the recent crisis among financial services companies
may be nearing its end
.
Akamai
(AKAM) - Get Report
gained $2.67, or 9.5%, to $30.83 after the stock got a thumbs up from two Wall Street analysts.
An analyst at Piper Jaffray upgraded the stock to buy from neutral while a Citigroup analyst reiterated his buy rating on the belief that the company's business remains strong because of continued momentum for online video.
Shares of
Microsoft
(MSFT) - Get Report
were up $1.12, or 4%, to $29.50 following a
Wall Street Journal
report that the company is
its bid for
Yahoo
(YHOO)
.
Microsoft's offer of $31 a share for Yahoo has been rejected by Yahoo's management. Yahoo was down 43 cents, or 1.5%, to $28.50.
BlackBerry maker
Research In Motion
(RIMM)
moved higher by $5.25, or 4.7%, to $117.48, a day ahead of the company's fourth-quarter results. Analysts expect RIM to beat its forecast and report at least earnings of 70 cents a share on revenue of $1.85 billion.
Shares of
Palm
(PALM)
were up 43 cents, or 8.6%, to $5.43 after the company said late Monday that it sold
of its latest smartphone Palm Centro since it went on sale September.
eBay
(EBAY) - Get Report
rose $1.57, or 5.3%, to $31.41 after a Goldman Sachs analyst increased his 2008 to 2010 EPS estimates and raised the price target on the stock to $35 from $33. Goldman Sachs has a buy rating on eBay.
(GOOG) - Get Report
shares were also swept up as a Goldman Sachs analyst maintained his buy rating on the stock. Shares were up $25.24, or 5.7%, to $465.71.