Updated from 1:24 p.m. EST with new stock prices
Tech shares had yet to break out in a definitive direction Monday, as investors were still shell-shocked by the broader market's largest weeklong downturn in five years.
Research In Motion
fell 9.4% as the
huge gainers of the market's three-month run-up continued to give back gains. RIM, which had tripled in value since mid-May, was recently off $10.62 to $102.60.
jumped after the company said
had agreed to buy the business software maker for about $5 billion, or 58 cents a share. IBM said the acquisition fits squarely within its capital allocation model, and that the deal will contribute to its earnings-share-growth goals through 2010. Shares of Cognos were recently up $4.17, or 7.9%, to $57.15.
shares were off after a Wall Street analyst cut his rating and price target on the stock.Bernstein Research's Jeff Evenson said the company gets about 4% of its revenue from "at risk" segments, including financial services, retail and automotive, which were noted by
CEO John Chambers last week as showing soft orders. Juniper was down $1.52, or 4.9%, to $29.69.
was off Monday as the graphics chipmaker continued to sell off after a run-up to last week's earnings report. On Thursday, the company reported a third-quarter earnings and revenue that beat estimates and guided revenue higher for the fourth quarter. The stock rose in after-hours trading on Thursday following the announcement, but succumbed to the broader market downturn on Friday. Shares were recently down $ 3.33, or 10%, to $30.03. The stock has now given back most of its gains of the past three months.
plunged Monday after the company's third-quarter results on Friday showed a high level of customer churn -- the rate of customers who left the company's satellite TV service. The company also cited the deteriorating housing market, as well as increased mortgage defaults due to subprime lending practices, for its troubles in the recent quarter. Shares of EchoStar were off $7.68, or 15.8%, to $40.83.
Shares of security software maker
jumped after the recently plummeting stock was found attractive by two brokerage houses, which upgraded the stock Monday. Vasco had fallen more than 50% from a mid-October high. The stock was recently up $2.86, or 14.6%, to $22.50.