Updated from 1:39 p.m. EDT
Art Technology Group
were among the best-performing technology stocks Monday, rising 14.6% after the company said retailer
American Eagle Outfitters
would use its software platform when it relaunches its online store. Shares traded up 14 cents to $1.10.
rose 4.2% after the chipmaker said it settled a shareholder class-action lawsuit for about $5.6 million. Microtune's director and officer insurance carriers agreed to pay the settlement amount, minus the company's 15% co-pay obligation. Microtune said the net effect of its co-pay obligation would have an "insignificant impact" on its cash reserves. In settling the lawsuit, Microtune made no admission of wrongdoing. Shares traded up 25 cents to $6.15.
rose 14.1% after Needham & Co. upgraded the company's shares to buy from hold. Needham said the company's cash burn and margin weakness is likely behind the company. What's more, the launch of Stratex's Eclipse wireless platform remains on track, Needham said. Needham gave Stratex a $3.20 price target. Shares traded up 28 cents to $2.27.
rose 5.2% after the company said it had its biggest one-day sales total ever on Friday. The company also reported a 31% jump in site visitors over the most recent weekend compared with the previous, though it didn't give a year-over-year comparison. Shares traded up $3.44 to $69.04.
rose 6% after several analysts raised their earnings estimates and price targets for the company. Merrill Lynch raised its price target to $78 from $61 and raised its first-quarter earnings estimate to 47 cents a share on sales of $3.4 billion. Previously, it expected earnings of 45 cents a share on sales of $3.2 billion.
Banc of America Securities, meanwhile, upped its price target to $73. Its previous target was $47. It expects full-year earnings of $1.60 a share, up from previous expectations of $1.24 a share. UBS raised its price target on the stock to $77, up from $66. The firm expects 2005 earnings of $1.40 a share on sales of $11.1 billion, up from its previous estimate of $1.30 a share on sales of $10.9 billion. All of the companies cited strong holiday season momentum for Apple's iPod player. Analysts polled by Thomson First Call are expecting first-quarter earnings of 44 cents a share on sales of $3 billion. Apple will report earnings on Jan. 12. Shares traded up $3.89 to $68.44.
Other technology volume leaders included
Sirius Satellite Radio
, up 18 cents to $6.69;
, down 15 cents to $23.06;
, up 17 cents to $26.77;
, up 25 cents to $5.51;
, down 29 cents to $18.94;
, unchanged at $3.99; and
, up 2 cents to $12.68.