Shares of Agere Systems ( AGR) were among technology's winners Monday, jumping 11% after the chipmaker agreed to be acquired by LSI Logic ( LSI) for $4 billion in stock. Agere shareholders will receive 2.16 shares of LSI for each share they hold. The deal values Agere at $22.81 a share, a 28% premium over the company's closing price of $17.79 on Friday. The deal is expected to close during the first quarter of 2007. Shares of Agere were trading up $1.93 to $19.72; shares of LSI tumbled $1.24, or 12%, to $9.32. SimpleTech ( STEC) shares surged 17% after the flash-memory concern boosted its fourth-quarter forecast. The company now sees earnings of 17 cents to 18 cents a share, up from an earlier view of 15 cents to 16 cents. SimpleTech also lifted its revenue projection to $105 million to $107 million from a prior view of $95 million to $100 million. Analysts polled by Thomson First Call have an average estimate for earnings of 15 cents a share and revenue of $97.7 million. SimpleTech attributed the higher guidance to strong performance in its original equipment manufacturer and consumer divisions. Shares were adding $1.57 to $10.35.
Shares of En Pointe Technologies ( ENPT) fell 6% after a big run Friday. The stock more than doubled Friday after the provider of IT services said it swung to a fourth-quarter profit. Shares recently were down 33 cents to $4.99. Nam Tai Electronics ( NTE) slid 3.5% after the electronics-manufacturing services company named a new chief executive. Warren Lee will replace Patinda Lei, who was named CEO and chief financial officer in January. Lei will continue to serve as financial chief until a replacement is found. Nam Tai shares were trading down 57 cents to $15.61. Other technology movers included Intel ( INTC), up 23 cents to $21.16; Microsoft ( MSFT), up 23 cents to $29.35; Cisco Systems ( CSCO), up 42 cents to $27.11; Oracle ( ORCL), up 12 cents to $18.93; Apple Computer ( AAPL), down 40 cents to $90.92; Sirius Satellite Radio ( SIRI), down 5 cents to $4.20; Sun Microsystems ( SUNW), up 4 cents to $5.43; and Level 3 Communications ( LVLT), up 5 cents to $5.50.