Spansion announced today that the stock will be delisted by Nasdaq at today’s close.
The NOR flash memory chip company, which is operating under Chapter 11 of the federal bankruptcy code, said that it is “making progress” on its restructuring plans.
Sohu.com, one of China’s largest Internet companies, hopes U.S. investors like its hack-and-slash videogames enough to give it as much as $120 million.
The Beijing-based company filed this week for an initial public offering of American depositary shares for its online game subsidiary, Changyou.com, on the Nasdaq Stock Market. The company started its road show presentations for investors in Hong Kong Wednesday, and will issue the price of the deal in the coming week, said company executives.
Until this week, most technology companies seemed to be weathering the meltdown on Wall Street.
But Monday’s sharp selloff on tech shares–which pushed the Nasdaq to its lowest level in more than three years–shows that the ripple effects of the crisis in the financial sector and the near-collapse of the credit markets are being felt.
After the worst day for the Nasdaq Composite in seven years, the index today turned around and posted a gain that was equally stunning, as the Street became hopeful that the financial crisis is nearing a turning point.
Here’s a cheery item on the chip sector that I missed while I was off at this morning’s Apple (AAPL)-sponsored Jack Johnson concert in San Francisco. Christopher Danely, semiconductor analyst at J.P. Morgan, asserted in a research note this morning that “deteriorating demand will bring about a correction in semiconductor estimates and stocks over the next four to six weeks.”
Quarter-billion-dollar (market cap) communications equipment vendor MRV Communications (MRVC) said this evening after the bell that it received a notice last Thursday from the staff of the NASDAQ.
Since September 2005, the Goldman Sachs tech analysts have been maintaining lists of their five favorite growth and value ideas, as well as their five least favorite stocks, aka, short ideas. Goldman refers to the lists collectively as its “Technology Investment Framework.”
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