Tech stocks were relatively flat Thursday, as stocks across the wider market recovered after the prior day's selloff.
XM Satellite Radio
was rising 4.2%, after an RBC Capital Markets analyst said he expected the company's proposed merger with
Sirius Satellite Radio
to be approved by the end of the year, the
reported. XM shares were up 56 cents to $13.81. Sirius shares were up 15 cents, or 4.8%, to $3.29.
also reported a Buckingham Research Group analyst cut his rating for
Level 3 Communications
to underperform from neutral. Shares sank 22 cents, or 4.3%, to $4.92.
Sirius and XM's rise helped outweigh Level 3's decline on the Nasdaq 100, but the index was only about 4 points to about 1999.
, which makes semiconductors for the broadband industry, was gaining 17.5% after CIBC World Markets upgraded the stock to sector outperform from sector perform. The upgrade came a day after the company announced Karen Roscher would replace Chief Financial Officer J. Scott Blouin. Shares were up 20 cents to $1.34.
Several stocks moving on heavy volume did so on relatively light news -- if any at all.
, the Kirkland, Wash.-based company building a wireless broadband network, announced it had launched its high-speed Internet access and phone service in Nashville. The company, which launched its first market in August 2004, now offers service in 16 states. Shares, trading at more than twice their three-month average volume, were up $2.04, or 9.6%, to $23.15.
Transaction management software maker
was lower by $3.46, or 9.5%, to $32.61. The stock also was trading at more than twice its three-month average.