Updated from 12:51 p.m.

3Com

( COMS) was among the most heavily traded tech stocks Monday, dropping 8% after the company trimmed second-quarter revenue guidance.

The Marlborough, Mass., maker of networking gear said it expects to lose 13 cents a share for its quarter ended Nov. 26, which is narrower than the year-ago loss of 37 cents. 3Com said it expects the latest period to include lower restructuring charges than the year-ago.

The company said it expects to post revenue of $151 million, down from the $175 million target the company provided in September. 3Com expects gross margins to fall to 35% from the previous 38% target.

3Com slipped 36 cents to $4.21 on 17.7 million shares traded.

Apple

(AAPL) - Get Report

rose 5% Monday after a pair of Wall Street banks offered bullish comments on the red-hot computer giant.

J.P. Morgan boosted its 2005 earnings target to $1.69 a share from $1.48 Monday, citing expectations for strong holiday sales. The firm also boosted its Apple revenue target to $12.9 billion from $11.4 billion.

Meanwhile, Bear Stearns boosted its price target on the stock to $72 from $60, noting the coming rollout of a flash memory iPod digital music player,

Reuters

reported.

Apple shares, which have tripled over the last year, added $3.10 to $65.78.

United Online

(UNTD)

rose 5% after nailing down a financing deal.

The Woodland Hills, Calif., Internet service provider said late Friday that it reached a credit agreement with Deutsche Bank that will allow United Online to borrow between $100 million and $150 million.

The company said it will use proceeds to finance its self-tender for 14.3 million shares at $9 to $10.50 a share. Excess funds may be used for purposes including stock repurchases and acquisitions, United Online said.

On Monday, United Online rose 60 cents to $11.60.

Shopping.com

(SHOP) - Get Report

dropped 14% after a Wall Street firm put a sell rating on its stock.

Deutsche Bank started coverage of the company with a $20 price target. The firm cited Shopping.com's reliance on paid search engines to generate traffic,

Reuters

reported.

Shares in the Israel-based shopping site slipped $4.16 to $25.84.

Sirius

(SIRI) - Get Report

once again topped the Nasdaq volume list, having traded 130 million shares at 12:30 p.m. EST. The stock rose 4% even after Fulcrum Global Partners downgraded the stock, continuing a recent run that has seen Sirius vault to a multiyear high.

Sirius rose 54 cents to $8.09.

Tech volume leaders included

Lucent

( LU), flat at $3.87;

Motorola

( MOT), up 45 cents to $18.30;

Nortel

( NT), down 2 cents to $3.67;

Intel

(INTC) - Get Report

, up 10 cents to $24.01; and

Sun Micro

(SUNW) - Get Report

, up 23 cents to $5.44.