Updated from 1:42 p.m. EDTTech stocks rebounded Tuesday along with the rest of the market after the Federal Reserve attempted to ease the credit crunch by lending up to $200 billion in Treasury securities on an extended-period basis to banks and investment houses. Video-game retailer GameStop ( GME - Get Report) added $2, or 4.6%, to $45.34 after a Goldman Sachs analyst said the stock is poised for a trading rally. Upcoming game releases, including Grand Theft Auto IV, widely expected to be a big blockbuster, could help drive GameStop shares, the analyst said in a research note. Google ( GOOG - Get Report) gained $12.55, or 3%, to $426.17 after the company said it has closed its $3.1 billion acquisition of DoubleClick following the European Union's approval for the deal. Shares of Texas Instruments ( TXN - Get Report) lost $1.85, or 6.2%, to $27.81 after the company lowered its forecast for the current quarter on weakness in its wireless business. TI said sales for the quarter will increase between 1% and 5% year-over-year to a range of $3.21 billion to $3.35 billion, lower than its earlier guidance of $3.27 billion and $3.55 billion. The chipmaker also slashed its EPS forecast to range between 41 cents and 45 cents, instead of its earlier guidance of 43 cents to 49 cents. Analysts were looking for revenue of $3.4 billion and 46 cents EPS. TI's weak forecast also took its toll on Nokia ( NOK - Get Report), which fell $1.61, or 4.9%, to $31.28. Analysts said TI's guidance indicating a slowdown in demand for mobile phones, especially 3G handsets, could indicate a weakness at Nokia. Sprint Nextel ( S - Get Report) fell 88 cents, or 13.1%, to $5.83 hitting a new 52-week low. Other tech winners and losers include: Systemax ( SYX - Get Report) (+30%), Citadel Broadcasting ( CDL - Get Report) (+26%) and Spartech ( SEH) (-21%).
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
Dow Futures Gain, Global Stocks Climb, As US-China 'Truce' Report Sparks Bulls
Wall Street futures extended gains Thursday, following on from a solid overnight session in Asia, amid reports of a potential truce in U.S.-China talks that could lead to the avoidance of new tariffs and a commitment to further, more detail discussions following this weekend's G20 Summit in Japan.
Economy, Immigration Headline First Democratic Presidential Nominee Debate
First Democratic debate 2019: Night One covers the economy, immigration healthcare and more.
What Stocks and Sectors Investors Should Watch During the Second Half of 2019
Curious about stocks or sectors that investors should watch now that we're transitioning into the second half of 2019? Here's what Real Money contributor Stephen Guilfoyle thinks.
Facebook's Mark Zuckerberg Pushes Back on Antitrust Talk
In an interview, Zuckerberg argued that Facebook's size helps, not hinders, progress on security and other issues.
How Investors Should Approach the Trade Talks, the Federal Reserve and Micron
United States Secretary of the Treasury Steven Mnuchin made comments on the trade talks early Wednesday. Mnuchin says that he believes that the U.S. and China were almost 90% of the way through trade talks. Fed chair Jerome Powell spoke about the need for the central bank to remain independent and to not cave to "short-term political interests." And, of course, we have Micron MU, which is Real Money's stock of the day and it also released earnings Tuesday after the bell. The company beat expectations.