Tech, Channel Stocks End October on High Note

By Kathleen A. Martin  |  Posted 2008-11-03 Email Print this article Print
 
 
 
 
 
 
 

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Tech stock stage a rebound when the last bell closed the worst trading month in Wall Street history.

Tech and channel stocks ended the worst month of trading in Wall Street history in the black. While few companies recovered their record losses since the economic meltdown began in September, Halloween provided more than few treats.

Only five of the leading publicly traded tech companies were in the red when the markets closed last Friday, and their losses were negligible compared to the sell offs of the entire month. The days losers came from the storage sector, as Symantec, FalconStor and Seagate Technologies lost ground.

Publicly traded solution providers didn’t fare as well. While only five of the 40 channel companies tracked by Channel Insider were in the red on Friday, big integrators Bearing Point and Convergys both tallied losses in the double-digit percentages. BT Global Services lost 9 percent under pressure of earnings and profit warnings by its partner company.

Many solution providers saw big comebacks as investors returned to the market. PC Mall, ManTech, Advance Computer Systems (ACS) and PC Connection were among the companies with significant double-digit gains.

The following are the closing prices and week-over-week results – as of Friday, Oct. 31 – for publicly traded IT vendors.

Leading Technology Vendor Stocks

Company

10/24

10/31

Difference

Adobe Systems (ADBE) 23.89 26.64

11.5%

Adtran (ADTN) 14.37 15.20

5.8%

Alcatel-Lucent (ALU) 2.03 2.01

-1.0%

AMD 3.03 3.50

15.5%

Apple (AAPL) 96.38 107.59

11.6%

Arrow Electronics (ARW) 16.07 17.45

8.6%

Avnet (AVT) 14.97 16.74

11.8%

BMC Software (BMC) 22.99 25.82

12.3%

CA 14.65 17.80

21.5%

Canon (CAJ) 27.42 34.27

25.0%

Check Point (CHKP) 18.20 20.22

11.1%

Cisco Systems (CSCO) 16.31 17.22

5.6%

Citrix Systems (CTSX) 21.63 25.77

19.1%

Data Domain (DDUP) 16.40 18.46

12.6%

Dell 11.50 12.15

5.7%

EMC 9.93 11.78

18.6%

FalconStor (FALC) 3.23 3.01

-6.8%

Foundry Networks (FDRY) 12.67 14.85

17.2%

Google (GOOG) 339.29 358.36

5.6%

HP (HPQ) 32.44 38.28

18.0%

IBM 82.07 92.97

13.3%

Ingram Micro (IM) 12.72 13.33

4.8%

Intel (INTC) 14.28 16.03

12.3%

Juniper Networks (JNPR) 16.50 18.74

13.6%

Lexmark (LXK) 25.18 25.83

2.6%

McAfee (MFE) 27.30 32.55

19.2%

Microsoft (MFST) 21.96 22.33

1.7%

Motorola (MOT) 5.01 5.37

7.2%

NetApp (NTAP) 12.20 13.53

10.9%

Nokia (NOK) 15.44 15.18

-1.7%

Nortel Networks (NT) 1.23 1.25

1.6%

Novell (NOVL) 4.11 4.66

13.4%

Oracle (ORCL) 16.20 18.29

12.9%

Polycom (PLCM) 19.51 21.01

7.7%

Rackspace (RAX) 4.97 5.69

14.5%

Red Hat (RHT) 11.37 13.31

17.1%

Research in Motion (RIMM) 44.96 50.43

12.2%

Salesforce.com (CRM) 26.68 30.96

16.0%

SAP 32.57 35.33

8.5%

ScanSource (SCSC) 18.53 19.84

7.1%

Seagate Technology (STX) 7.04 6.77

-3.8%

Sun Microsystems (JAVA) 4.48 4.60

2.7%

Sybase (SY) 24.36 26.63

9.3%

Symantec (SYMC) 13.68 12.58

-8.0%

Synnex (SNX) 15.11 15.43

2.1%

Tech Data (TECD) 20.32 21.45

5.6%

VeriSign (VRSN) 19.66 21.20

7.8%

VMWare (VMW) 22.13 31.00

40.1%

Websense (WBSN) 16.70 19.52

16.9%

Xerox (XRX) 7.45 8.02

7.7%

 
 
 
 
 
 
 
 
 
























 
 
 
 
 
 

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