Expect the following technology stocks to be among Monday's most actively traded issues: Autobytel, Bluefly, Intel and Microsoft.
The Internet car-shopping service said late Friday that Chief Financial Officer Hoshi Printer has resigned to become CFO at BestOffer.com. Amit Kothari, Autobytel.com's controller, was named interim CFO.
Autobytel.com fell 3/16 to 6 13/16 at Friday's close.
You could take your pick of several ailing Internet stocks identified in Barron's latest article chronicling the woes of marginal 'Net companies on the verge of insolvency.
Bluefly, along with CDNow (Nasdaq: CDNW), drkoop.com (Nasdaq: KOOP) and several others, were among 12 companies the publication said could burn through their cash within the next few months.
In the article, Barron's updated its original 207-company study from its March 20 article ``Burning Up,'' for this year's first quarter.
Barron's said Internet companies burned their cash more slowly in the latest quarter, according to a Pegasus Research International study that was done for Barron's. But the article said more than 60 companies are still faced with the prospect of running out of cash in the next 12 months.
Bluefly shares closed unchanged at 3 1/4 Friday, well below its 52-week high of 16 11/16 set in November.
The chipmaker stands to gain ground Monday when it unveils five new mobile processors used in mobile PCs, such as notebooks, thin, light and ultraportable systems.
The processors will be available in products the public will see in the next 60 days.
Intel shares closed down 2 3/16 to 126 1/16 in the regular trading session but edged down 1/4 to 125 13/16 in after-hours trading.
MicroStrategy raised $125 million in convertible preferred stock with institutional investors led by Promethean Asset Management.
MicroStrategy said it plans to use the proceeds from the private placements to fund working capital and other general corporate needs, including developing its software. In March, MicroStrategy plunged after it had to restate earnings and revenue. Earlier this month, however, MicroStrategy more than doubled on speculation that the company would receive the cash infusion.
Keep an eye on Microsoft shares in early trading Monday after the software giant warned there could be a material impact on its stock if it does not get sufficient legal relief through a stay of a court order to split the company, or a successful appeal.
"The failure to obtain sufficient relief through the stay and/or the appeal could have a material adverse effect on the value of Microsoft's common stock," the Redmond, Wash.-based company said in a Securities and Exchange Commission filing.
Microsoft shares closed up 3/16 to 72 9/16 Friday.
It said it expects to obtain relief from some or all of the provisions in the final judgment, but was ``unable to predict when or to what extent the relief will be obtained.'' >