By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks showed strength in
afternoon action Thursday, but some data-storage companies were in
the red after Dell Inc. unveiled a lowball deal to acquire
Compellent Technologies Inc.
Compellent (CML) fell $4.62 a share, or 13.7% to $29.04 after
the company said it was in "advanced discussions" about Dell
acquiring Compellent for $27.50 a share.
Compellent's shares have risen more than 70% over the past three
months on speculation that the company could be a takeover target
after Dell lost a bidding war with Hewlett-Packard Co. (HPQ) to
acquire 3Par Inc. over the summer.
CommVault Systems Inc. (CVLT), which has also been viewed as a
possible data-storage takeover target, fell 81 cents a share to
close at $30.32.
Networking-equipment maker Ciena Corp. (CIEND) rose $2.44 a
share, or more than 15%, to close at $18.36 after the company gave
a mixed fourth-quarter earnings report, but said it expects its
first-quarter sales to surpass analysts' forecasts.
Chinese Internet video-streaming company Youku.com Inc. (YOKU)
climbed another $9.26, or more than 27%, to close at $42.70 one day
after soaring 161% in its initial public offering.
E-Commerce China Dangdang Inc.(DANG), which rose almost 90% in
its IPO Wednesday, added another $2.31 a share, or almost 8%, to
end the day at $32.22.
U.S. shares of Dutch chip-equipment maker ASML Holding (ASMLD)
rose $2.57 a share, or more than 7%, to close at $37.74 after the
company forecast fourth-quarter bookings of $2.66 billion and said
it expects demand to improve in most of its semiconductor market
segments.
Among other tech stocks, declines came from Microsoft Corp.
(MSFT), Hewlett-Packard Co. (HPQ) , Apple Inc. (AAPL) and Intel
Corp. (INTC)
(INTC)(INTC)The Nasdaq Composite Index (RIXF) rose 7.5 points to
2,616, and the Philadelphia Semiconductor Index (SOX) was up
slightly.