Expect the following technology stocks to be among Monday's most actively traded issues: CDNow, Intraware and Lycos.
CDNow investors found a glimmer of hope Friday after the online music retailer's shares shot up 111 percent after telling Wall Street it will announce a deal with a merger partner or investor later this month.
The stock closed up 2 9/16 to 4 7/8.
CEO Jason Olim said it had "attracted a number of interested investors."
The company has culled a short list of prospective investors and merger partners from more than two dozen companies that expressed interest in CDNow.
In March, CDNow announced it was actively seeking a partner or investor and was slashing $12 million in operating expenses to stay afloat.
In its latest quarter, CDNow posted a loss of $28.2 million, or 92 cents a share, on sales of $43.6 million, slightly more than analysts' had expected.
The stock fell to a low of 2 last week after peaking at 23 1/4 in July.
Intraware should get a boost Monday when it announces that Kana Communications, Net Perceptions and RSW Software will all use for its online information channel.
Intraware will then have reseller rights and its customers will have access to an expanded realm of offerings via its IT e-marketplace.
Its shares closed up 1 1/4, or 9 percent, to 15 1/8 Friday.
The Internet portal might see increased action Monday after CEO Bob Davis said late Friday that it and Terra Networks (Nasdaq: TRRA) will record higher sales than Yahoo! Inc. (Nasdaq: YHOO) by sometime in late 2001 or early 2002.
Davis made the bold projection at the Silicon Alley Reporter International Network 2000 conference in New York.
He added that the combined companies, which merged in an all-stock transaction valued at $12.5 billion, plan to aggressively pursue acquisitions to fuel its growth.
Lycos shares finished up 6 15/16 to 71 3/16 Friday while Yahoo! and Terra Networks closed up 14 7/16 and 5 5/8 a share, respectively.
The telcommunications equipment maker could see some downside again Monday after China Daily Business Weekly said Sunday that China Unicom has scrapped a project using the company's mobile-phone technology.
Instead of using current CDMA wireless telephone standards, the company will build a network using later-generation CDMA technology.
News that China Unicom might not use the CDMA technology sparked selling in Qualcomm last week. Qualcomm had signed a royalty agreement with Unicom in February.
The newspaper said that agreement "could be cancelled" but Qualcomm would benefit from Unicom's use of more advanced CDMA technology in the future.
Reuters contributed to this report.>