Monday's Tech Winners & Losers: - TheStreet

Monday's Tech Winners & Losers: soars after an analyst puts the stock on his conviction buy list.
Publish date:

Tech stocks were up Monday in part by favorable research notes on companies such as

(AMZN) - Get Report


Texas Instruments

(TXN) - Get Report


Shares of

(AMZN) - Get Report

soared $8.04, or 10.5%, to $84.49 after James Mitchell, an analyst at Goldman Sachs added the stock to the firm's 'Americas Conviction Buy' list.

Mitchell also raised his six-month price target on the stock to $98 from $75. Based on the company's online-offline expansion strategy, the demand for its electronic book reader Kindle, and share gains in a growing online retail market, Mitchell said he estimates Amazon can sustain more than 20% year on year unit growth over five to 10 years.

Texas Instruments

(TXN) - Get Report

gained 81 cents, or 2.5%, to $32.60 after a Citgroup analyst upgraded the stock to buy from hold. Analyst Glen Yeung also added TI to his 'Top Picks Live' list and raised the price target to $39 from $31. Chip orders are likely to pick up in the second half of 2008, driven by new product launches, he said.

Shares of


(ORCL) - Get Report

were up 94 cents, or 4.3%, to $22.62. The company and CEO Larry Ellison were featured in a largely flattering

the cover story

in this week's


magazine, which said many investors do not understand the full potential of the company's operations and the value of the stock.

Video-games publisher

Electronic Arts


shed 64 cents, or 1.3%, to $48.97 after it extended it tender offer for rival


(TTWO) - Get Report

yet again

to June 16. Shares of Take-Two fell 30 cents, or 1.1%, to $26.80.


(AKAM) - Get Report

shed 44 cents, or 1.1%, to $39.89 after an analyst at Citigroup downgraded the stock to hold from buy, saying the risk-reward ratio for potential investors is less compelling now that the stock has moved within 4% of the analyst' price target of $42.

GPS-based navigation devices maker


(GRMN) - Get Report

shed $1.39, or 2.8%, to $48.63 after an analyst at Needham downgraded the stock to hold from the buy. Garmin shares have exceeded the analyst's price of $48 even as the uncertainty around the personal navigation devices market continues weighing down on the stock.