were among technology's winners Tuesday, rising 3% after the China-based Internet and wireless services company announced a $100 million share repurchase plan.
The new buyback, which will be completed during the next six months, replaces the company's previous $50 million share repurchase plan. "The completion of our previous $50 million program is a testament to our confidence in the long-term growth prospects for our company," NetEase.com said. "By doubling the size of the new authorization to $100 million, we are reaffirming our confidence and optimism for NetEase's future." Shares recently were trading up 48 cents to $17.49.
Online search and entertainment company
slid 4% after WR Hambrecht initiated coverage of the stock with a sell rating. "Although we find its vast mobile content catalog impressive for today's mobile content market, we question the long-term sustainability of the company's model as the emerging mobile content market begins to unfold," the firm said in a research note.
The brokerage firm slapped a $17.50 price tag on InfoSpace and said that it believes "the stock is currently overvalued unless the company demonstrates improved fundamentals. We believe this will be difficult without a change in strategy, given current market dynamics." Shares recently fell 77 cents to $21.33.
( AVCI) fell 3% after the maker of network-router equipment named William Stuart as chief financial officer. The appointment is effective immediately. Stuart most recently served as a general partner at venture capital firm Still River Funds. Avici's previous financial chief, Paul Brauneis, resigned in May. Shares were trading down 28 cents to $7.98.
rose modestly after the outsourcing and consulting company announced a five-year services contract with Taiwan's VIBO Telecom. The deal calls for Convergys to provide back-office operations to VIBO, a mobile operator. Congergys will manage all aspects of VIBO's customer care and billing systems. Shares were up 6 cents to $19.90.
( SVR) rose 3% after the network-services company filed a shelf registration statement with the
Securities and Exchange Commission
to sell up to 19.6 million shares from time to time. Shares recently changed hands at $16.30, up 42 cents.
Other technology movers included
, down 9 cents to $19.29;
( LU), up 4 cents to $2.30;
, up 1 cent to $2.66;
, down 68 cents to $66.30;
, down 12 cents to $25.83;
, down 4 cents to $21.37;
, down 4 cents to $4.88; and
, up 14 cents to $16.47.