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Tech Industry

THE DAY AHEAD: Stocks to Watch

Expect the following technology stocks to be among Monday's most actively traded issues: Amazon.com, Global Crossing, Healtheon, Hewlett-Packard, K-Tel International, Plantronics and Zapata.

  • Amazon.com Inc. (Nasdaq: AMZN)

    Amazon is offering 50 percent discounts on best-selling books in a move that could start a price war with Barnesandnoble.com.

    Amazon said the moves are designed to pass along cost savings to the customer. "This is not a sale, this is not a promotion -- this is everyday low pricing," said Jeff Bezos, CEO of Amazon, in a statement.

    The price cuts may be good for consumers, but bad for investors. Wall Street may focus on the rising expenses, shrinking margins and ever-present losses.

  • Global Crossing Ltd. (Nasdaq: GBLX)

    The builder of international fiber optic networks and US West Inc. (NYSE: USW) confirmed Monday that they would merge in a stock swap that has been valued at $37 billion. Global Crossing rose 1 3/8 to 61 3/8 and US West rose 2 1/4 to 62 1/4.

  • Healtheon Corp. (Nasdaq: HLTH)

    The healthcare software company is in talks to merge with WebMD, reported the Bloomberg News on Friday, citing sources familiar with the matter. Healtheon rose 10 to 57.

  • Hewlett-Packard Co. (NYSE: HWP)

    Hewlett-Packard will announc its second-quarter earnings Monday. First Call consensus expects the PC and accessory manufacturer to earn 80 cents a share in the quarter.

    In the year-ago quarter, it made $685 million, or 65 cents a share, on sales of $12 billion.

    Hewlett-Packard shares closed off 2 13/16 to 84 3/16 Friday.

    The stock surged up to a 52-week high of 87 7/8 last week after falling to a low of 47 1/16 in August.

    Last quarter, H-P pocketed $960 million, or 92 cents a share, on sales of $11.9 billion.

    Nineteen of the 26 analysts following the stock rate it either a "buy" or "strong buy."

  • K-Tel International Inc. (Nasdaq: KTEL)

    K-Tel International investors are probably ruing the day they jumped on this one-hit wonder. The online music retailer, famous for selling albums on late-night television and lately the Internet, posted a third-quarter loss of $4.7 million, or 50 cents a share Friday.

    There was no First Call consensus estimate in the quarter, but the loss was much wider than the $1 million, or 12 cents a share, it lost in the year-ago quarter.

    Back in November, K-Tel shares were red hot, peaking at 39 1/8. But the stock has collapsed in recent months, closing down 5/32 to 8 1/32 Friday.

    Company officials said the disappointing results were caused by reduced sales in Germany and continued heavy investment in the company's online operations.

  • Plantronics Inc. (NYSE: PLT)

    Plantronics, the world's leading manufacturer of communication headsets, said Friday that chairman Robert Cecil would resign and not seek reelection to the board of directors.

    Plantronics shares closed off 1 3/4 to 65 1/8 Friday.

    Cecil had been the company's CEO from 1992 through January.

    The stock hit a high of 87 1/2 in January after falling to a 52-week low of 42 5/8 last May.

    All four analysts following the stock rate it either a "buy" or "strong buy."

  • Zapata Corp. (NYSE: ZAP)

    The fish oil and protein, meat casing, oh yes, and Internet company reported earnings of 3 cents a share, down from a year-ago profit of 27 cents a share. Zapata rose 1/8 to 8 11/16.

    -Eric C. Fleming contributed to this report.>