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Tech Winners & Losers: Take-Two

A pulled buyout offer sends the video-game maker's shares reeling.

Tech stocks couldn't escape the pain spreading throughout the market Monday as a result of

Lehman Brothers


teetering toward bankruptcy and

Merrill Lynch


agreeing to be bought out by

Bank of America

(BAC) - Get Bank of America Corp Report




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

Hardest hit was video game maker


(TTWO) - Get Take-Two Interactive Software, Inc. Report

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

Electronic Arts


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.



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


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



, 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.