Thursday's Tech Winners and Losers
Updated from 1:47 p.m. EST with new stock prices
Tech stocks declined along with the wider market Thursday as investors remained concerned about additional writedowns in the financial sector and weak earnings reports.
Shares of
Qualcomm
(QCOM) - Get QUALCOMM Incorporated Report
continued to surge, a day after the company said it will buy Atlanta-based mobile banking company
Firethorn Holdings
for $210 million in cash. Qualcomm was up 77 cents, or 1.9%, to $40.81 in recent trading.
AMD
(AMD) - Get Advanced Micro Devices Inc. Report
rose 3.6% after the company introduced a new line of graphics chips for personal computers and targeted at video gamers. AMD was up 44 cents to $12.72 in midday trading.
Video-games retailer
GameStop
(GME) - Get GameStop Corporation Report
TheStreet Recommends
was up 3.8% ahead of the company's third-quarter earnings Tuesday. Analysts expect GameStop to report earnings of 23 cents a share on $1.42 billion in revenue. GameStop was up $2.03 to $55.90 in recent trading.
BEA Systems
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fell 4% after
Oracle
(ORCL) - Get Oracle Corporation Report
CEO Larry Ellison said Oracle is likely to go after other targets instead of renewing its bid for BEA. Oracle had offered $6.7 billion, or $17 a share. BEA responded with a demand of $21 a share, or $8.2 billion. BEA was recently down 70 cents to $16.70.
Research In Motion
(RIMM)
reversed its gains from the last two days and fell $6.94, or 6.3%, to $103.01 in recent trading.
Storage company
Network Appliance
(NTAP) - Get NetApp Inc. Report
declined 1.5% after
comments about weak U.S. growth and price cuts during the company's second-quarters results Wednesday. NetApp was off 41 cents to $26.20.
