Updated from 12:46 p.m. EDTShares of Acxiom ( ACXM) were among technology's winners Monday, rising 16.5% after the company said ValueAct Capital, its largest shareholder, may offer to buy the company for $23 a share. The $23 price tag would represent a 26% premium to Friday's closing price of $18.24. ValueAct, in a letter to management, said that it is disappointed in the direction of the company and that an infusion of "fresh and independent participation at the board level" would help challenge management and bring critical financial acumen to the company. Acxiom said that if ValueAct does make an offer, Acxiom management would review it in accordance with its fiduciary obligations. Shares of Acxiom traded up $3.01 to $21.25. ATI Technologies ( ATYT) fell 10.4% after the company cut its third-quarter sales outlook and said that fourth-quarter sales would be below expectations. The maker of graphic chips now expects third-quarter sales of $530 million, down from previous guidance of $560 million to $600 million. The company said that a product mix shift toward the lower end of the desktop and notebook discrete market caused sales to fall below expectations. Analysts polled by Thomson First Call had been expecting sales of $575 million. Looking ahead, ATI forecasts fourth-quarter sales of about $600 million, well below the $659 million that analysts had been expecting. Shares traded down $1.58 to $13.68. Shares of Zoom Technologies ( ZOOM) rose 10.8% after the company said that it would earn $3.5 million from the sale of InterMute. In May, Trend Micro ( TMIC) agreed to buy privately held InterMute for about $15 million. Zoom's total cash investment in InterMute was $467,000. Zoom, which plans to record a nonoperating gain of $3.5 million, or 39 cents a share, from its investment, said it could also receive up to $3 million in additional payments during 2006 if certain conditions and performance targets are met. Shares traded up 24 cents to $2.47.
On Monday, Nokia ( NOK) signed an agreement to expand a digital network for Total Access Communications, a Thailand mobile service provider. The two-year contract extension, worth about $212 million, calls for Nokia to deliver its Edge-enabled UltraSite base stations as well as its NetAct network and services management system. Nokia has worked with Total Access since the early 1990s and has served as the mobile service provider's sole network supplier since October 2003. Nokia traded down 4 cents to $17.04. Shares of Gateway ( GTW) rose slightly after the company announced the retirement of its chief financial officer. Gateway said that Rod Sherwood, who joined Gateway in October 2002, would leave the company later this year. Gateway said Sherwood has no immediate plans after he leaves the company. Sherwood said he made the announcement so that Gateway would have plenty of time to find a well-qualified successor. Sherwood will participate in the selection process for his replacement and stay with the company during the transition period. Shares traded up 1 cent to $3.29. Other technology movers included Sun Microsystems ( SUNW), down 4 cents to $3.62; Intel ( INTC), down 16 cents to $27.17; Cisco Systems ( CSCO), down 2 cents to $19.38; Microsoft ( MSFT), down 6 cents to $25.37; Lucent Technologies ( LU), down 5 cents to $2.79; Oracle ( ORCL), up 6 cents to $12.65; Apple Computer ( AAPL), down 32 cents to $37.92; Applied Materials ( AMAT), down 5 cents to $16.82; Google ( GOOG), up $10.68 to $290.94; Sirius Satellite Radio ( SIRI), down 11 cents to $5.89; and eBay ( EBAY), up 84 cents to $38.64.$6.34.