were among technology's winners Monday, rising 6% after the software company renewed its stock repurchase plan.
The repurchase plan, which is effective Sept. 28, will allow the company to buy up to 1.34 million shares, representing about 10% of the company's public float. Under the yearlong repurchase plan, the company won't be allowed to buy more than 2% of its shares during any 30-day period. "CryptoLogic and its directors believe that the company's common shares have been trading at prices that do not reflect the underlying value of the company, given its earnings, positive cash flow and strong balance sheet," the company said. "As a result, the company believes that its common shares are a good investment at current and recent prices." Shares were recently trading up 94 cents to $17.
rose 2% after the company announced a $500 million share repurchase plan. Freescale, which said purchases could be made in the open market or through privately negotiated transactions, also said that the repurchase authorization "does not obligate the company to acquire any particular amount of common stock and may be suspended at any time at the company's discretion." Shares were trading up 49 cents to $23.05.
rose 2% after the company announced multiple design wins. The company will provide China's TP-Link, a provider of SMB and home networking switches, with its SparX Gigabit Ethernet switch IC technology, which will be used in TP-Link's new 5- to 24-port smart Ethernet and unmanaged Ethernet switches. TP-Link's switch products are already shipping in volume, Vitesse said. Shares were trading up 5 cents to $2.09.
rose 1% after the Chinese Internet company named Charles Chao as full-time president and chief financial officer. Chao previously served as co-chief operating officer and chief financial officer. Hurst Lin, meanwhile, formerly co-chief operating officer, will serve as sole chief operating officer. Shares were trading up 34 cents to $26.60.
rose 3% after the company said it licensed the Microsoft Windows Mobile operating system from
for an expanded line of Treo smartphones. The new Treo smartphone will operate with the Verizon Wireless' BroadbandAccess service, Palm said. "We collaborated with Verizon Wireless first because of its high-speed wireless network and growing footprint of BroadbandAccess cities," Palm said. "We've long believed that the future of personal computing is mobile computing, and our collaboration with Microsoft is a historic step in delivering that vision to a larger market," Palm said. Verizon Wireless expects the new Treo smartphone to be available to customers in early 2006. Shares of Palm were trading up 91 cents to $29.60.
Other technology movers included
, down 2 cents to $12.43;
, down 12 cents to $24.26; Microsoft, up 15 cents to $25.42;
, down 2 cents to $18.03;
Sirius Satellite Radio
, down 6 cents to $6.64;
, up 13 cents to $2.38;
, up 86 cents to $54.06; and
, down 18 cents to $33.91.