Yahoo!, RIM: Tech Winners & Losers
Yahoo!, RIM story updated with closing stock prices and more information on Logitech.
NEW YORK (
) --
Yahoo!
(YHOO)
was up in late day trading Tuesday on merger speculation, while
Research In Motion
( RIMM) fell after an analyst downgrade.
Yahoo! rose 3.22% to close at $16.97 Tuesday afternoon after reports circulated that the Sunnyvale, Calif.-based search giant could be the target of a takeover attempt by private equity group
KKR
. Chinese Internet company
Alibaba
is also rumored to be eying Yahoo!
had also pegged
AOL
(AOL)
as a potential Yahoo! bidder.
Priceline
(PCLN)
, meanwhile, closed up more than 8% to $420.65 after releasing strong third-quarter earnings and better-than-expected fourth quarter guidance Monday.
Revenue jumped 37% to $1 billion from $730.7 million during the year-ago period. Adjusted profit rose to $5.33 a share, compared to $3.45 a share a year ago.
Computer peripherals maker
Logitech
(LOGI) - Get Report
jumped more than 12% and closed at $21.89. The company, whose set-top box, Revue, is featured in
Google's
(GOOG) - Get Report
TV effort, filed its 10-Q after market close Monday. The company also held an analyst and investor day Tuesday, where it raised its long-term gross margin outlook from 32% - 34% to a range of 35% - 37%.
Level 3 Communciations
(LVLT)
surged more than 18.6% and closed at $1.05
after the company announced it had secured a deal with Netflix (NFLX) - Get Report
. Trading of the web hosting firm was temporarily halted due to a circuit breaker trip as investors reacted to the report.
On the flip side of the flat line, shares of BlackBerry maker RIM fell more than 2.65% and closed at $55 after Kaufman Bros. downgraded the stock from buy to hold Tuesday. Also adding to the price drop was the fact that
AT&T
(T) - Get Report
cut the price of its BlackBerry Torch smartphone in half from $199.999 to $99.99.
--Written by Olivia Oran in New York.
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