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Tech Industry

STOCKS TO WATCH: Ceragon Networks, Drugstore.com and NBCi

    Expect the following technology stocks to be among Monday's most actively traded issues: Ceragon Networks, Drugstore.com and NBCi.

  • Ceragon Networks (Nasdaq: CRNT)

    Ceragon Networks might get a boost Monday after Salomon Smith Barney analyst Victor Halpert started the Israeli maker of high-speed wireless broadband equipment with a "buy" recommendation.

    He also set a 12-month price target of $27 a share.

    Ceragon shares closed up 0.25 to 17.63 Friday.

    "We believe that given its industry leadership in being consistently first to market with ultra-high capacity equipment, the company's superior engineered products and the fact that those products are geared to medium-to-large sized enterprises, Ceragon should trade at the upper end of the industry's revenue multiple range," Halpert said in research report.

    Ceragon shares hit a 52-week high of 32.94 in September.

  • Drugstore.com (Nasdaq: DSCM)

    There's more trouble for one of the many shaky Internet retail firms.

    The online pharmacy announced late Friday that it would lay off 60 employees, roughly 10 percent of its staff, in a cost-cutting move.

    Drugstore.com, whose store is the health-and-beauty tab on Amazon.com, has long been the presumed leader in the online drugstore sector.

    "We believe these cost-cutting steps are prudent and appropriate actions that are consistent with our stated strategy of achieving sustainable growth, while conserving cash at hand," said CEO Peter Neupert in a prepared release.

    The stock closed unchanged at 2.56 Friday after peaking at 55 set in December.

    All nine analyst following the stock still rate it either a "buy" or "strong buy."

  • NBCi (Nasdaq: NBCI)

    NBCi's shakeup continued Friday when President and COO Edmond Sanctis resigned along with several other executives at the online news site and entertainment site.

    Executive VP of Sales John McMenamin, Senior VP of Sales, Greg Regis, VP of Marketing Stacy O'Connell and VP of Business Development Tim King are also expected to leave, according to sources close to the company.

    Company officials said Sanctis will not be replaced.

    Sanctis, a seven-year veteran of NBC, previously served as a vice president of NBC's digital production division and worked on the MSNBC joint venture with Microsoft. Before that, he worked as an on-air reporter at affiliate stations for all three major networks and spent time as a management trainee at Sony of America.

    "We are streamlining our company, making it leaner and tighter and eliminating costs and layers of management and positioning it to reach profitability as quickly as possible," said Will Lansing, CEO of NBCi in a memo to staffers.

    NBCi shares finished up 0.38 to 5.19 Friday.

    Reuters contributed to this report.>