Skip to main content

Shares of

Applied Micro Circuits


were among technology's losers Wednesday, falling 7% after the chipmaker said it received a subpoena from the U.S. Attorney for the Northern District of California related to its stock option practices.

Applied Micro said the subpoena requested documents related to the company's historical stock-option practices. In addition, the U.S. Attorney for the Southern District of California has opened an investigation into the company's option practices as well, Applied Micro said. The company, which previously announced that its audit committee is conducting a self-initiated review of its stock option-grant practices, said it doesn't expect to complete its review before June 29, the extended deadline to file its annual report with the

Securities and Exchange Commission

. As a result, the company has pushed back a special meeting of shareholders until July 28. Shares were recently trading down 18 cents to $2.44.


( PALM) fell 2% after the maker of handheld computer devices agreed to settle a patent-infringement suit with


(XRX) - Get Xerox Holdings Corporation Report

. As part of the settlement, which relates to a lawsuit that was filed by Xerox in April 1997, Palm agreed to pay Xerox $22.5 million for a license for three patents. Palm said that it would take a charge during the fourth quarter related to the license payment. Palm shares were trading down 37 cents to $17.95, while Xerox rose 6 cents to $13.35.


(RMBS) - Get Rambus Inc. Report

shares tumbled 11% after the tech licensing company said it may need to restate prior periods' results due to discrepancies in stock option-award dates. Rambus also said it may need to record additional charges related to stock-option expenses for the periods. Shares were down $2.56 to $20.57.

Shares of

Scroll to Continue

TheStreet Recommends


( IDNX) rose 1% after the biometric technology company said it received $3.3 million in new orders for its TouchPrint enhanced-definition fingerprint and handprint scan systems. The orders, which were received over the past few weeks, are from federal agencies and state and local law enforcement agencies that are upgrading and expanding live scan networks, Identix said. The company said that it plans to recognize revenue from the orders during the next three months. Shares were trading up 7 cents to $6.70.


(CTS) - Get CTS Corporation Report

fell 1% after the maker of electronic components announced a new five-year, $100 million revolving credit facility. The new unsecured facility also includes a $50 million accordion feature that will be used for general corporate purposes, CTS said. The $100 million revolver replaces the company's previous three-year, $75 million credit facility, which was scheduled to expire in July 2007. Shares were down 15 cents to $13.52.

Shares of

Comverse Technology

( CMVT) rose 1% after the software company said a Nasdaq panel granted the company's request for continued listing. The panel said that Comverse must file its annual report by Aug. 18 and its quarterly report for the period ended April 30 by no later than Sept. 1. Comverse shares were up 29 cents to $19.42.

Other technology movers included


(INTC) - Get Intel Corporation Report

, up 47 cents to $18.52;


(MSFT) - Get Microsoft Corporation Report

, up 21 cents to $23.07;

Sun Microsystems

(SUNW) - Get Sunworks Inc. Report

, up 5 cents to $4.02;

Sirius Satellite Radio

(SIRI) - Get Sirius XM Holdings Inc. Report

, up 3 cents to $4.60;



, down 10 cents to $2.35;

Apple Computer

(AAPL) - Get Apple Inc. Report

, down $1.61 to $55.82;

Marvell Technology Group

(MRVL) - Get Marvell Technology Inc. Report

, down $1.78 to $42.36;

Cisco Systems

(CSCO) - Get Cisco Systems Inc. Report

, down 11 cents to $19.19;


(ORCL) - Get Oracle Corporation Report

, up 2 cents to $14.52; and

Lucent Technologies

( LU), up 2 cents to $2.35.