Tech stocks were down Monday as the sector's big names declined, while the broader market indices faced selling pressure over credit worries.
gained 5.5% after the company said Toshiba has agreed to license its memory controller interface cell technology for Toshiba's next-generation high-definition television chipsets. Rambus was up $1.17 to $21.88.
jumped 10.8% after a Wall Street analyst upgraded the stock to overweight from equal weight with a price target of $13.
A Lehman Brothers analyst said the travel Web site gets little credit for its international business, which is likely to hit profitability in 2008. He also indicated share buybacks are likely.
Meanwhile, Orbitz said Monday it has eliminated the position of global chief marketing officer and will focus its marketing efforts on a regional basis. Shares were up 94 cents to $9.43.
fell 3.1% even though Stifel Nicolaus upgraded the stock from sell to buy and saddled it with a 12-month price target of $99. Amazon should be considered as an open-source technology platform rather than just a retailer, said the analyst. Shares were down $2.77 to $86.39.
Research In Motion
was off 3.6% ahead of the company's third-quarter earnings on Thursday.
Analysts are expecting earnings per share of 62 cents on revenue of $1.65 billion, vs. EPS of 31 cents on revenue of $835 million a year ago. For the fourth quarter, analysts project EPS of 65 cents on revenue of $1.74 billion.
Some analysts have been concerned that RIM's revenues could be impacted by a slowdown in IT spending in the financial sector. The stock was trading down $3.73 to $102.17.
gave up 6.6% after a Citigroup analyst downgraded the stock to hold from buy. The stock has moved within 5% of Citigroup's price target of $124, which offers less upside for investors, said the analyst. Priceline.com was off $7.68 to $109.49.
IT security company
was down 2.5% after the stock was downgraded by a Wall Street firm.
An analyst from Cowen & Co. downgraded the stock to neutral from outperform on a survey that indicated slower growth, a more competitive landscape and declines in market share. Symantec was off 43 cents to $16.51.
continued to slide, falling to a 52-week low as investors remained concerned about the delays in the key products.
At its analysts' meeting last week, AMD confirmed that its new server chip, code-named Barcelona, will be pushed to early next year. AMD said it hopes to hit profitability in the second half of 2008, but the company acknowledged it overpaid in the acquisition of Canadian graphics chipmaker
and will take a goodwill-related writedown to its results. AMD was off 31 cents, or 3.7%, to $8.12.