Updated from 3:16 p.m. EDT
shares bounced Friday after news of the $254 million sale of software services company
to Los Angeles private investment firm Platinum Equity.
Safeguard has a 58% voting interest in CompuCom, whose shareholders will receive $4.60 a share under terms of the deal, which includes $35 million in debt financing.
Safeguard shares closed up 11 cents, or 4.51% to $2.55, after hitting a 52-week low of $2.05 last week. About 5 million shares changed hands in recent trading, while CompuCom closed down 35 cents a share, or 7.23% to $4.49 in recent trading of 849,820 shares, about eight times the average volume.
El Paso Corp.
( EP) ran low on juice after delaying
Securities and Exchange Commission
filings and announcing that doing so may have taken it out of compliance with the obligations of its public indentures and other financing arrangements. The Houston energy company planned a conference call Friday to provide an update on its finances and operations.
Shares dimmed 52 cents, or 6.73%, to close down $7.21 on volume of 12.8 million shares.
Blue Coat Systems
( BCSI) was a volume leader and loser on the
, as its shares peeled off $11.45, or 29.17%, to close at $27.80. About 4.9 million shares were exchanged -- more than 10 times its average daily volume -- after the Sunnyvale, Calif., Web security equipment maker reported weaker-than-expected quarterly earnings late on Thursday.
Blue Coat's fourth-quarter earnings were 20 cents a share, well short of the 24-cent analyst estimate from Thomson First Call. Blue Coat also forecast first-quarter earnings of 20 to 21 cents a share, also shy of analysts' 24-cents consensus estimate.
Big Board volume leaders included
( NT), which was boosted by a cautious endorsement from Lehman Brothers, as the broker set a price target of $7.50 a share. Nortel closed down 1 cent a share, or 0.26%, to $3.83 on volume of 27 million shares.
Other Big Board volume leaders included
stocks were topped by
Wendy's Sizzles, Riggs Rebounds
Other gainers in a day of light trading included both the A and B shares of
, which rallied after its Wednesday posting of positive earnings results for its second quarter.
The maker of personalized broadband devices saw a profit of 4 cents a share on income of $83 million, up from a loss of 6 cents a share on losses of $105 million in the year-ago period.
The A shares closed up 13 cents, or 5.39% to $2.54 on volume of 9.4 million shares in recent trading, and the B shares climbed 16 cents, or 6.99% to close at $2.45 on volume of 4.6 million shares, reversing a slide that began in late April and saw prices on the B shares drop to a 52-week low May 20.
saw a technical climb, probing its 200-day simple moving average as it closed up $1.65, or 4.57%, to $37.79 in trading of 2 million shares.
On the Nasdaq,
( DITC) rose $4.67, or 29.33%, to close at $20.59 on volume of 7.5 million shares.
Late Thursday, the telecommunications equipment maker posted better-than-expected quarterly results of 24 cents a share, above analysts' expectations of 20 cents a share.
Riggs National Corp.
, the Washington, D.C., bank battered by a money-laundering scandal earlier this year, rose after confirming it was looking for a buyer and had hired Lehman Brothers as an advisor.
Riggs closed up $3.10, or 16.54% to $21.84 on volume of 1.6 million shares, about seven times its normal volume.
Mahanagar Telephone Nigam
saw its American depositary shares slide Friday after a government ruling by new IT and communications minister Dayanidhi Maran curbed prospects for full privatization. Shares closed down 58 cents, or 9.05%, at $5.83.
Curative Health Services
saw sickly results after a downgrade by Southwest Securities, closing down $1.98, or 15.85% at $10.52 a share, on volume of 743,017, more than triple normal volumes.
, a maker of supply chain management software, also tumbled on downgrades from JMP Securities and RBC Capital Markets. Shares closed down 55 cents, or 11% to $4.45 on volume of 3.9 million shares.
Big Board losers included
Coeur D'Alene Mines Corp.
, which dropped 37 cents, or 7.31%, to close at $4.69 after making a bid for Canadian mining company
( WHT). Wheaton River, whose shares rose earlier in the week, dipped a penny to $2.91.