STOCKS TO WATCH: Altera, IBM and Novellus Systems
Expect the following technology stocks to be among Monday's most actively traded issues: Altera, IBM and Novellus Systems.
The programmable logic device maker will be active ahead of its third-quarter earnings report.
First Call Corp. consensus expects to earn 28 cents a share in the quarter.
Altera and other PLD makers such as Xilinx (Nasdaq: XLNX) and Actel (Nasdaq: ACTL) have seen their stock prices plunges following a series of downgrades from major brokerage firms.
Eighteen of the 22 analysts following the stock rate it either a "buy" or "strong buy."
IBM could get a lift Monday after announcing Sunday it is offering an updated version of a key line of powerful computers targeted at businesses that use the Internet.
The IBM p680 UNIX server, the latest computer under a new eServer brand name, is the latest version of IBM's RS/6000 computer line -- updated with a performance-boosting technology known as silicon-on-insulator.
"Silicon-on-insulator means the material is overlaid over the transistors," Rod Adkins, general manager, IBM Web servers, told Reuters. "You get better performance on lower power as well as better reliability."
IBM said the technology allows for faster transaction processing and better performance in other business tasks.
The new IBM eServer p680 is priced starting at $420,000, and will be available next month.
IBM shares closed up 5.94 to 109.06.
The chip-equipment maker should be worth watching of its third-quarter earnings report.
Analysts expect Novellus to earn 61 cents a share in the quarter.
Its shares closed up 4.63 to 40.50 Friday.
Reuters contributed to this report.>