Intel/McAfee, iPad: Weekly Tech Recap

Intel's big buy of McAfee moved stocks this week. Here's a roundup of TheStreet's top tech stories.
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NEW YORK (TheStreet) -- Rounding out the year's biggest week for M&A thus far, Intel (INTC) - Get Report jolted investors Thursday morning when it announced an extravagant deal to buy security software maker McAfee (MFE) for $7.7 billion, or $48 a share (that's a 60% premium on the previous day's closing price).

While

Intel's McAfee acquisition might makes some sense

as a way for the chip maker to get a

better foothold in the mobile device market

--

McAfee has made some mobile-specific acquisitions over the past few months

-- investors are still waffling on the long-term viability of the deal.

Tech watchers wondering about the

logic behind a chipmaker owning a pure-play security company

helped send Intel stock down 2.83% for the week; stock was down 3.52% on Thursday following the announcement and closed up 1 cent, or 0.05%, at $18.91 on Friday.

The deal saw some gainers as well, as McAfee rival

Symantec

(SYMC) - Get Report

rose 3.22% on speculation that it might be an acquisition target, too.

Symantec

closed at $13.80 on Friday.

Despite the leadership issues plaguing

Hewlett-Packard

(HP) - Get Report

and

Dell

(DELL) - Get Report

of late, both PC makers -- along with a handful of other

tech firms -- reported solid, in-line-or-better quarterly earnings

Thursday after market close.

Dell, which bought storage specialist 3Par

earlier in the week, beat both EPS and revenue estimates at $15.5 billion and 32 cents EPS.

HP's

revenue beat -- $30.7 billion, which was above expectations of $30.43 billion -- was slighter. The company, coming off its own

acquisition of Fortify Software

, didn't have any significant news to share on how its CEO replacement effort is going. HP has hired an executive search firm to help; it gave no guidance on when the position would be filled.

Chip maker

Marvell

(MRVL) - Get Report

, small business barometer

Intuit

(INTU) - Get Report

and cloud computer

Salesforce.com

(CRM) - Get Report

all reported incredibly solid earnings Thursday as well. Their gains -- Intuit stock advanced 13% after posting a narrower-than-expected loss for its fiscal fourth quarter -- helped to reprieve tech after last week's sector downfall. The

Nasdaq nudged into positive territory

at market close Friday, reaching 2182 -- its high for the day.

HP closed down 2.23% to $39.85 and Dell closed up 0.25% to $12.07.

Rumors of a smaller

Apple

(AAPL) - Get Report

iPad surfaced last week in a Taiwanese newspaper. Apparently

Apple is developing a tablet with a 7-inch touchscreen

that could hit the market in time for the hoilday buying season.

Apple refused to comment on the speculation, and the tech giant's stock price saw a quiet week. It closed down 24 cents to $249.64 on Friday.

Meanwhile, blog

Download Squad

revamped talk of the expected

HTC

-

Verizon

(VZ) - Get Report

-

Google

(GOOG) - Get Report

Chrome-running tablet device, which the site said would go on sale November 26, or Black Friday, traditionally the biggest shopping day of the year.

Google refused to comment on the rumor and

TheStreet

never heard back from Verizon regarding details of the upcoming device.

Download Squad

reports that the

Verizon Chrome tablet

will probably be loads cheaper than the iPad.

Tech's week ahead

Tech earnings for the quarter have wound down and it's time to take a closer look at the implications behind the numbers and outlook.

TheStreet

will take another look at the smartphone market on Tuesday, zeroing in on Android's crazy growth -- and whether or not it can be sustained.

Also, following on the M&A trend -- specifically the Intel/McAfee deal --

TheStreet

will tell investors what security stocks to keep an eye on over the next few months.

--Written by James Rogers in New York

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