Updated from 12:51 p.m. EDT
were among the best-performing technology stocks Friday after the company agreed to be acquired by
for $11 a share in cash.
The $129 million deal represents a 23.6% premium over NetSolve's closing price of $8.90 on Thursday. Cisco said the acquisition of the network software management firm will allow the company to offer its customers real-time monitoring of Cisco products. The deal is expected to close during Cisco's second fiscal quarter, which ends January 2005. Shares of NetSolve traded up $1.94, or 21.8%, to $10.84.
fell after the company cut its third-quarter sales outlook. The chipmaker said that softer prices and weaker-than-expected demand will lead to a 2% to 6% sequential sales decline. Previously, Atmel said that its sales would be up 2% to 6% sequentially. A 2% to 6% decline from second-quarter results would yield third-quarter sales of $395.6 million to $412.4 million. Analysts were expecting third-quarter sales of $435.4 million. Shares traded down 4 cents, or 1.1%, to $3.71.
rose after the company received an unsolicited bid of $9.96 a share from
. Artesyn's board will review the offer and determine whether it is in the best interest of its shareholders. Under the deal, Artesyn shareholders would receive 0.265 shares of Bel Fuse's class B stock for each share of Artesyn they hold. The offer would represent a 21.8% premium over Artesyn's closing price of $8.18 on Thursday. Shares traded up $1.69, or 20.7%, to $9.87.
fell after the company cut its third-quarter earnings and sales targets. As a result of weaker-than-expected shipments during the third quarter, the maker of high-definition televisions now expects to post a loss of $5.6 million to $6.1 million, wider than the loss of $4.4 million to $4.9 million it previously forecast. Sales, meanwhile, are now expected to be $600,000 to $800,000, down significantly from its previous forecast of $2.8 million to $3.2 million. Analysts are looking for a loss of 64 cents a share on sales of $3 million. Shares of Brillian traded down 86 cents, or 12.3%, to $6.16.
rose after Goldman Sachs initiated coverage of the stock with an outperform rating. Goldman said Volterra's technology and business model set it up nicely for upward earnings revisions going forward. What's more, Goldman believes that Volterra will achieve a 20% growth rate over the next five years as it gains market share. Shares of Volterra Semiconductor traded up $2.63, or 25.2%, to $13.10.
Other technology volume leaders included
, up 40 cents to $20.57;
, up 53 cents to $10.46;
, up 21 cents to $27.49;
, up $1.84 to $19.79;
, up 11 cents to $4.03; and
, up 7 cents to $3.30.