Monday's Tech Winners & Losers - TheStreet

Monday's Tech Winners & Losers

Verizon Wireless's deal for Rural Cellular helped lift tech stocks.
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Updated from 1:11 p.m. EDT

Tech stocks were flat in volatile overall market to start the week, despite a big buyout in the wireless space.

Rural Cellular

(RCCC)

skyrocketed 34.4%, after fellow wireless carrier Verizon Wireless agreed to buy the company for $2.67 billion in cash and assumed debt.

Rural Cellular shareholders will receive $45 per share in cash for a total equity price of $757 million. Verizon Wireless, a joint venture of

Verizon

(VZ) - Get Report

and

Vodafone

(VOD) - Get Report

, will increase its customer base by 700,000 through the acquisition, the company said. Rural Cellular shares gained $10.95 to $42.76.

ValueClick

(VCLK)

plummeted 19.2%, after the online advertising firm issued disappointing earnings and guidance. The company's profits rose to $17.6 million, or 17 cents a share, in the second quarter, from $14.4 million, or 14 cents a share, in the year-ago quarter.

ValueClick also lowered its full-year earnings outlook to 74 cents to 76 cents a share on revenue of $645 million to $660 million, from 79 cents to 81 cents a share on revenue of $655 million to $665 million. Analysts polled by Thomson Financial expected second quarter earnings of 18 cents a share and full-year earnings of 80 cents a share on revenue of $665.1 million. The stock fell $5 to $21.01.

After a flat morning, the Nasdaq 100 was up about 17.7 points to 1973.93.

Amtech Systems

(ASYS) - Get Report

climbed 13.5% Monday, after the chipmaker said it had received a $4.9 million follow-on order for its solar power processing cells from an existing customer. The order, which the company expects to ship in 2008, brings the company's total of solar orders to $19 million for the year. Amtech shares rose $1.45 to $12.23

Hittite Microwave

(HITT)

jumped 3.9%, after being upgraded by Needham & Co. to buy from hold. The chipmaker last week reported earnings in line with analysts' estimates. Shares advanced $1.55 to $40.86.

Logitech International

(LOGI) - Get Report

rose 5% on higher-than-normal volume. Logitech, which makes mice, keyboard and other computer components, did not make any kind of announcement, but shares gained $1.29 to $27.31, on volume above its three-month average.