Software and communication companies made marks on both the high and low lists this week.
On Monday, SFX Broadcasting agreed to sell the company to investment firm Hicks, Muse, Tate and Furst for $1.2 billion. The deal gives Hicks Muse the most radio stations in the country. SFX’s stock jumped $6.25 a share to close at $74.13 on Monday’s NASDAQ. It held onto most of the gain in a decidedly down week on Wall Streek, closing Friday at $73.38 a share, up from last week’s close of $67.87-1/2.
Altera, the maker of semiconductors, warned late Wednesday that its third-quarter results will be shy of company’s expectations due to weak North American demand. Thursday, Bear Stearns and Hambrect & Quist lowered its investment rating on San Jose-based Altera and the stock plunged $9 to $52.38 on NASDAQ.
On Friday, its stock closed at $53.25 share, down from last week’s close of $62 … And Mosaix, of Redmond, Wash., provider of calling-center software and services warned that profits for its third quarter ending Sept. 30 will be below analysts forecasts. Its stock skidded $5 to $9 a share on Thursday. On Friday, it closed at $9.38 a share, down from last week’s close of $13.75.
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