Tech Winners & Losers: Sirius

The stock jumps after signs that the FCC will give a merger OK.
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Updated from 2:09 p.m. EDT with new stock prices

Tech stocks were up Monday despite a spike in oil prices and larger economic concerns that held the broader market in check.

Sirius

(SIRI) - Get Report

was up 8 cents, or 3.2%, to $2.62 after the

Wall Street Journal

reported that the staff of the Federal Communications Commission

has recommended

the agency clear the company's planned merger with

XM Satellite Radio

(XMSR)

. The move could eliminate one of the last few regulatory hurdles to closing the deal that was announced in February 2007.

BlackBerry maker

Research In Motion

(RIMM)

was up $8.00, or 6%, to $140.96 after two Wall Street analysts, Citigroup's Jim Suva and American Technology Research's Rob Sanderson, issued upbeat research reports ahead of the company's quarterly earnings report on June 25. Both analysts expect RIM to beat analysts' expectations for the quarter and guide higher.

Semiconductor equipment maker

Applied Materials

(AMAT) - Get Report

gained 71 cents, or 3.5%, to $20.80 after the company said it is still interested in buying some business of Dutch company

ASM International

(ASMI)

despite the latter's recent rejection of the offer. Applied Materials had bid between $400 million and $500 million in cash for two of ASM's businesses. ASM's shares were up $2.50, or 9.2%, to $29.61.

Broadcom

added $1.03, or 4%, to $26.82 after the company said it has won a patent dispute filed by GPS chip maker

Sirf Technology

(SIRF)

. Sirf had claimed that two of its GPS patents were infringed by Global Locate, a company Broadcom acquired in July 2007.

Video-game retailer

GameStop

(GME) - Get Report

rose $3.38, or 7.6%, to $47.89 after an analyst at Goldman Sachs raised his rating on the stock to neutral from sell. The stock's valuation now reflects more appropriately the belief that the video games industry is headed for a slowdown as some of the year's most anticipated game releases are behind it.

Telecom giants

AT&T

(T) - Get Report

and

Verizon

(VZ) - Get Report

lost ground after an analyst at UBS reduced his ratings on the two companies to neutral from buy. The analyst said the slowdown in the U.S. economy will take its toll on the two carriers even as competitive pressures increase.