Quest Software, RIM, Zynga: Tech Winners & Losers (Update 1)
NEW YORK (TheStreet) - An unknown bidder offered to acquire Quest Software
Quest Software announced earlier this year that Insight Venture Partners was going to acquire it for $25.75 per share, or nearly $2.17 billion. Dell
The receipt of this superior proposal drove shares of the enterprise management software maker up 5.63% to $27.69. At mid-day, the stock reached a 52-week high of $27.75.
Zynga could not be reached for comment on this article.
Shares of Facebook fell 3% to $32.06 on Monday, while Zynga climbed 1.17% to $6.07.
Research In Motion
"We downgrade RIM to Underweight as we believe the only way RIM remains a viable entity is at a fraction of its current size, a transformation that erases much of its earnings power. Immediate asset sales or strategic options could unleash ~$15 per share in value, but are unlikely leaving a declining Book Value," wrote analyst Ehud Gelblum.
A RIM spokesman quashed a rumor on Monday morning that the company was considering spinning off its handset business.
Shares of Research In Motion fell sharply -- 7.61% to $9.10 -- on Monday.
Goldman Sachs lowered its forecasts for handset and smartphone global growth in 2012 based on weaker demand and inventory reductions. Handset unit growth was reduced to 4% from 10% and smartphone from 38% from 42%.
After the software giant Microsoft
--Written by Nathalie Pierrepont in New York.
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