Updated from 2:14 p.m. EST with new stock prices
The once-buoyant tech sector was plunging again Friday, as investors again sold off stocks on concerns of slowing growth.
Research In Motion
, which makes the BlackBerry, was off $11.26, or 9.1%, to $113.22, and telecom networking provider
shares lost 40 cents, or 5%, to $7.54. Both stocks are components in the Nasdaq 100 index, which shed 71.86 points to 2,034.30.
One of the biggest decliners in the tech sector was low-cost cell phone carrier
, which was shedding 36.8% after saying it would
restate financial results from the beginning of 2004 through the second quarter of this year. The company expects the restatement to result in $20 million reductions in both service revenues and operating income. Shares fell $21.38 to $36.72.
, which earlier this month withdrew its $4.7 billion offer to buy Leap, saying the company was not responsive, also was losing $4.70, or 22.6%, to $16.10. Leap said it spent $4 million in the third quarter to evaluate the offer and solicit other bids.
Shares of wireless broadband player
also were plummeting. The stock was shedding $4.54, or 25.2%, to $13.49, after
ended a partnership to build a nationwide mobile broadband network.
Despite the bloodshed, there were several winners in the tech sector.
, another Nasdaq 100 component, was tacking on 4.5%, after upgrades from JP Morgan and Citigroup. JPMorgan upped the chipmaker to overweight from neutral and Citi raised it to buy from hold. Shares gained 80 cents to $18.71.
was soaring 23% after the online travel booking site blew away third-quarter expectations and announced an acquisition of an Asian online travel company. The company posted pro forma net income of $1.58 a share on revenue of $416.9 million. Analysts polled by Thomson Financial had expected $1.28 a share on revenue of $387.5 million.
Priceline.com also said it had acquired Bangkok and Singapore-based Agoda for an undisclosed amount. Shares were gaining $19.41 to $103.68.