Tech Winners & Losers: Take-Two - TheStreet

Tech Winners & Losers: Take-Two

A pulled buyout offer sends the video-game maker's shares reeling.
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Tech stocks couldn't escape the pain spreading throughout the market Monday as a result of

Lehman Brothers

(LEH)

teetering toward bankruptcy and

Merrill Lynch

(MER)

agreeing to be bought out by

Bank of America

(BAC) - Get Report

.

The

Nasdaq

lost 43 points -- or 1.9% -- to 2218.

Hardest hit was video game maker

Take-Two

(TTWO) - Get Report

, whose stock nosedived 22% to $17.05 after a merger deal with

Electronic Arts

(ERTS)

finally collapsed.

Electronic Arts pulled its $2 billion offer over the weekend after months of failed negotiations with Take-Two. Shares of Electronic Arts slipped 2% to $44.07.

SanDisk

(SNDK)

shares also fell on Monday, down 6.3% to $14.70 after Cowen chopped its estimates for the company as a result of softening pricing for NAND flash memory.

The firm now expects SanDisk to lose 65 cents a share for the year instead of 38 cents as previously predicted. For next year, it expects a loss of 25 cents a share instead of a profit of 13 cents a share.

Shares of

Research In Motion

(RIMM)

tumbled 5.4% to $99.97 after Pacific Crest offered a bleak assessment of the company's sales. The firm sees September's numbers as slightly disappointing, despite a number of new product launches. August sales are also looking flat.

One of the few bright spots among tech stocks was

DealerTrack

(TRAK)

, which provides software and systems to car dealers. Shares climbed 3.1% to $18.60 after JMP Securities upgraded the stock to market outperform from market perform.