Nam Tai Electronics
were among technology's winners Monday, rising 5% after the company posted record August sales.
The maker of electronic components posted a sales record of $67 million during August. The previous record was $63 million, which was achieved in April 2005. "We are very delighted with these results," the company said. "With our continued growth, we look forward to a successful third quarter." Shares were trading up $1.24 to $24.56.
rose 11% after the company agreed to be acquired by
for $5.85 billion, or $10.66 a share. Excluding Siebel's cash on hand of $2.24 billion, the deal works out to $3.61 billion. The price represents a 17% premium to Siebel's Friday close of $9.13 a share.
Siebel shareholders will receive $10.66 a share in cash unless they elect to receive Oracle stock. No more than 30% of Siebel's stock, however, can be exchanged for Oracle stock, Oracle said. Oracle said that it expects the deal to be accretive to pro forma earnings during the first full year. The acquisition is expected to close in early 2006. Shares were trading up $1.17 to $10.30.
rose 13% after Jim Cramer plugged the stock on his "Mad Money" television show Friday evening. Cramer told his
audience that the video-conferencing software company would head much higher after the market figures out the company's allure to the military. Indeed, the company, which has a big head start over its competitors, already sells its products to the U.S. and Israeli armies. Cramer said that once the market figures out the Military's interest in the company's products the stock will head "a lot higher." Shares were trading up $1.58 to $13.64.
rose 1% after the company received several contracts that have a combined value of about $43 million. The contracts, awarded by various U.S. Navy shipyards and defense contractors, call for DRS to design, manufacture and test advanced instrumentation and control equipment, power distribution components and power conversion equipment for shipboard conventional and nuclear-powered electric plants supporting U.S. Navy combatant submarines and surface ships. Work under the contracts, which has already begun, is expected to continue through March 2007. Shares were trading up 32 cents to $53.24.
fell 1% after the company announced the immediate resignation of president John Schwarz. Schwarz is leaving Symantec to take over the chief executive position at
. Schwarz will replace Bernard Liautaud, who will continue as chairman and assume the new role of chief strategy officer. Vice chairman Gary Bloom, who had served as co-president with Schwarz at Symantec, will assume responsibility for Symantec's six business units. Shares of Symantec were recently trading down 25 cents to $22.30, while shares of Business Objects were recently trading down 12 cents to $35.97.
Other technology movers included
, up 22 cents to $4.22;
, up 91 cents to $39.53;
, down 18 cents to $25.07;
, down 4 cents to $18.54;
Sirius Satellite Radio
, up 5 cents to $7.44;
, up 2 cents to $3.19;
, up 6 cents to $26.64;
, up 40 cents to $35.05;
, up $18.52 to $114.82; and
, down 17 cents to $51.14.