Updated from 12:32 p.m. EDT with new stock prices

Garmin's

(GRMN) - Get Report

hostile takeover bid for a Dutch mapmaker sent shares sliding, but tech stocks held steady in advance of the

Federal Reserve's

rate cut decision this afternoon.

Garmin shares slid 10.9% after the GPS device maker

bid $3.3 billion for Dutch mapmaker Tele Atlas. The move comes a month after

Navteq

(NVT) - Get Report

agreed to an $8.1 billion buyout offer from

Nokia

(NOK) - Get Report

, which sent Garmin shares spiraling downward. Shares were losing $13.08 to $107.40 Wednesday.

Akamai

(AKAM) - Get Report

was sinking 1.4% after Deutsche Securities cut the digital media distribution stock to a hold from a buy, but upped its price target to $40 from $37. Shares were losing 55 cents to $39.19.

Dell

(DELL) - Get Report

gained 2.7%, after the computer maker

restated earnings for the period between 2003 through the first quarter of this year. The move brings the company back in compliance with

Nasdaq

listing requirements and should pave the way for it to continue its stock buyback program. Shares were gaining 80 cents to $30.60.

Elsewhere on the Nasdaq 100,

NII Holdings

(NIHD) - Get Report

slid 5.2% to $58 and

Google

(GOOG) - Get Report

was up fractionally, but trading above $700 for the first time at $707.00. The index was up 31.37 points to 2,238.98.

Business software maker

MicroStrategy

(MSTR) - Get Report

jumped 13.6% after it reported solid third-quarter results. The company posted revenue growth of 23% to $95.8 million, up from $77.7 million in the year-ago period. The company reported net income of $19.3 million, or $1.51 a diluted share, vs. $17 million, or $1.27 a share, a year ago. Shares were adding $11.76 to $98.33.

SiRF Technology

( SIRF) also was soaring 27.9%, after the chipmaker swung to a third-quarter loss but

beat expectations. The company lost $16.1 million, or 28 cents a share, vs. a net profit of $2.6 million, or 5 cents a share, in the year-ago period. Excluding charges, SiRF earned 29 cents a share, above the 22 cents a share expected by analysts. Shares gained $6.51 to $29.81.