Macroeconomic worries may have caught up with the technology sector, which faced a 43% fall on the deal value of mergers and acquisitions (M&A) to US$33.4 billion in Q2 2012 as compared to US$58.3 billion a year ago. Ernst & Young’s report revealed that the tech stocks had outpaced deal value for all industries in the starting three months of 2012, but fell behind in the second quarter. The value of all disclosed-value deals signed in second-quarter grew 33 per cent when compared with US$25.1 billion in Q1, but the first quarter is the lowest-value quarter on record for technology deals, according to the report.
Marvell Technology Group Ltd. (NASDAQ:MRVL) fell -14.17% with the closing price of $10.54 a day after the chip maker reported earnings that missed estimates. The overall volume in the last trading session was 54.11 million shares, more than the average volume of 10.01 million. The total market capitalization remained $5.94 billion.
MRVL is ahead of its 52 week low 2.63% and its last month price volatility remained 3.30%. Its beta coefficient was 1.23 with a target price of $15.95. In its share capital MRVL has 563.40 million outstanding shares while 460.40 million shares have been floated in the market. It has negative year-to-date performance of -23.51%.
In the last trading session, Sprint Nextel Corporation (NYSE:S) moved up +0.78% and closed at $5.19 after Citigroup, with no change to its buy rating on the stock, increased the price target from $6.00 to $6.50. The total traded volume was 43.93 million shares. Its opening price was $5.25 and its shares hit the day high of $5.25 and day low of $5.12.
Groupon Inc (NASDAQ:GRPN) plunged -5.00% and closed at $4.75 during the last trading session. GRPN has earnings per share of -$0.12. It has outstanding shares of 653.68 million with the total market capitalization of 3.10 billion.
Nokia Corporation (ADR) (NYSE:NOK) jumped +3.79% with the closing price of $2.74. The overall volume in the last trading session was 30.02 million shares, less than the average volume of 51.79 million. The total market capitalization remained $10.26 billion.
NOK is ahead of its 52 week low 68.10% and its last month price volatility remained -59.91%. Its beta coefficient was 1.58 with a target price of $2.40. In its share capital NOK has 3.83 billion outstanding shares while 3.79 billion shares have been floated in market. It has negative year-to-date performance of -38.57%.