Tech Stocks in Motion

Register.com says a buyout offer is too low.
Author:
Publish date:

Updated from 2:19 p.m.

Shares of

Register.com

(RCOM)

rose 1.5% Monday after the company said that its board rejected a buyout offer from

RCM Acquisition Co.

The Internet registrar company called the $7.10-a-share offer inadequate. "The board has considered the offer from RCM, and we don't believe that it reflects the full and fair value of the company," Register.com said. "We have instructed our financial advisers, Credit Suisse First Boston, to consider all available alternatives to maximize shareholder value, including potential further discussions with RCM." Shares traded up 11 cents to $7.37.

Nam Tai Electronics

(NTE)

fell modestly after the company said that it received a customer order to manufacture LCD modules for digital mobile printers. Nam Tai, which did not identify the company that placed the order -- saying only that the new order is from a provider of imaging, information, and document-related products and services -- did not disclose financial terms of the deal. Shares of Nam Tai traded down 2 cents to $23.68.

Shares of

@Road

(ARDI)

rose 1.1% after the company named Michael Martini chief financial officer. Martini most recently served as CFO for SPL WorldGroup, a provider of customer care and billing, enterprise asset and work management, mobile workforce management and outage management systems for energy markets. Shares traded up 3 cents to $2.68.

Affiliated Computer Services

(ACS)

rose 1.7% after the company said it received a finance and accounting contract from

United Technologies

. ACS will provide a host of services for United Technologies, ranging from accounts payable to collections and cash applications functions. Financial terms of the deal were not disclosed. Shares traded up 84 cents to $51.83.

Shares of

EchoStar Communications

(DISH) - Get Report

rose slightly after the satellite television provider said that Michael Neuman has been named president and chief operating officer. Neuman most recently served as president of Bell Canada Enterprises subsidiary Bell Mobility. Neuman's appointment fills the vacancy left by Michael Dugan, who retired in April 2004. Shares traded up 12 cents to $30.09.

Other technology movers included

Lucent Technologies

(LU)

, up 9 cents to $3.07;

Microsoft

(MSFT) - Get Report

, up 7 cents to $25.11;

Sun Microsystems

(SUNW) - Get Report

, down 1 cent to $3.86;

Intel

(INTC) - Get Report

, down 22 cents to $26.90;

Oracle

(ORCL) - Get Report

, up 7 cents to $12.41;

Cisco Systems

(CSCO) - Get Report

, up 7 cents to $19.60;

Sirius Satellite Radio

(SIRI) - Get Report

, down 1 cent to $6.01; and

eBay

(EBAY) - Get Report

, down 81 cents to $37.24.