Digital Music Group
( DMGI) were among technology's winners Monday, vaulting 26% after the company signed a revenue-sharing deal that will allow
YouTube to access some of its content.
"We're very excited to introduce our video and controlled-publishing music catalogs to the largest audience for video content available on the Internet," Digital Music Group said. "Not only is YouTube helping to promote independently owned content but will also provide a new revenue source for DMGI through online advertising." Financial details were not disclosed. Shares of Digital Music were trading up 98 cents to $4.73.
( WITS) jumped 21% after the software company agreed to be acquired by
for $27.50 a share, or $950 million. The purchase price represents a 23% premium over Witness' Friday closing price of $22.27.
Verint, a unit of
( CMVT), will finance the deal through a $650 million debt financing commitment and a $293 million preferred stock investment by Comverse. The deal is expected to close in the second quarter. Shares of Witness Systems were up $4.71 to $26.98.
Brush Engineered Materials
soared 26% after the provider of alloy and electronic products posted better-than-expected fourth-quarter results and issued a strong guidance. For the fourth quarter, the company earned $30.3 million, or $1.48 a share, up from $4.1 million, or 21 cents a share, a year earlier. Excluding items, Brush Engineered earned 44 cents a share, beating Thomson First Call's average analyst projection of 41 cents. Revenue rose to $207.8 million from $140.6 million, compared with Wall Street's forecast of $188.5 million.
Brush Engineered sees first-quarter adjusted earnings of 60 cents to 75 cents a share, well above analysts' target of 41 cents. The company anticipates revenue of $250 million to $265 million, compared with analysts' projection of $180 million. Shares were trading up $8.90 to $40.26.
Lamson & Sessions
( LMS) rose 6% after the maker of electrical components laid out plans to explore strategic and financial alternatives, including a sale of the company. The company hired Perella Weinberg Partners as financial adviser to help it in the process. Shares were trading up $1.72 to $28.49.
Nam Tai Electronics
fell 7% after the electronics-manufacturing services company posted lower-than-expected fourth-quarter revenue. The company reported adjusted earnings of $12.3 million, or 28 cents a share, matching the consensus analysts' estimate. Revenue, however, totaled $229.6 million and missed Wall Street's forecast of $235.8 million. In the year-earlier period, Nam Tai earned $15 million, or 34 cents a share, on revenue of $247.2 million. Shares were down 99 cents to $13.27.
Other technology movers included
, down 1 cent to $28.97;
, down 19 cents to $27.52;
, down 9 cents to $17.88;
Level 3 Communications
, down 5 cents to $6.13;
, down 13 cents to $20.90;
, up $1.11 to $84.38; and
, down 2 cents to $6.46.