NEW YORK (CNNfn) - Shares of 3D graphics company, Nvidia Corp., soared almost 38 percent on speculation that Microsoft plans to use Nvidia's technology in its XBox gaming console.
Shares of software giant, Microsoft Corp., rose more than 5 percent earlier Tuesday, on news it is joining NDS Group PLC, an affiliate of Australian media empire News Corp. Ltd., to offer enhanced TV services. Also, Goldman Sachs analyst Rick Sherlund made positive comments about the company, which helped to boost its shares.
Shares of Cinar, an entertainment and education company that develops nonviolent programming for children, plunged after two top executives resigned and the chief financial officer was fired after a disclosure that $122 million was invested in bonds without the knowledge of the company's board.
Procter & Gamble Co.'s stock also tumbled after the major consumer products maker issued a disappointing earnings forecast.
Today's Winners
Nvidia Corp. (NVDA: Research, Estimates) up 21-5/8 to 80-1/8.
Shares of Nvidia Corp., a provider of 3D graphics processors, soared on speculation that Microsoft will soon announce plans to use Nvidia's technology in its XBox gaming console.
Computer Horizons Corp. (CHRZ: Research, Estimates) up 2-7/8 to 24-3/8.
Computer Horizons Corp.'s unit, Princeton Softech, a leader in enterprise data synchronization technology, joined, at IBM's invitation, a consortium of vendors developing SyncML, an industry-wide mobile data synchronization protocol. The SyncML initiative, founded by Ericsson, IBM, Lotus, Motorola, Nokia, Palm Inc., Psion and Starfish Software, develops and promotes an open industry specification for universal data synchronization across multiple networks, platforms and devices.
Net2000 Communications (NTKK: Research, Estimates) up 17-1/2 to 37-1/2.
Shares of Net2000 Communications, a provider of state-of-the-art broadband telecommunications services, debuted strongly, trading in the upper 30s shortly after their opening and holding that level through mid-afternoon. The initial public offering had been priced at $20, at the top of a boosted pricing range.
Microsoft Corp. (MSFT: Research, Estimates) up 3-3/4 to 94-3/8.
Microsoft and NDS Group PLC, an affiliate of Australian media empire News Corp. Ltd., said they have joined forces to offer enhanced TV services. Microsoft's business appears on track for the current quarter, even as management appears focused on settling the government antitrust suit against the software maker, said a key Wall Street analyst. Rick Sherlund, the Goldman Sachs analyst who helped take Microsoft public in 1987 and is seen as a key Wall Street voice on all things Microsoft, made the comments after meeting with John Connors, Microsoft's new chief financial officer.
SAFLink Corp. (ESAF: Research, Estimates) up 2-3/16 to 7-5/8.
SAFLink Corp., an application software developer, said it received a patent for its fingerprint-controlled set-sop box, which provides a method for securing electronic commerce transactions initiated via a television set-top box. Monday, the company reported revenue of $412,000 for its fiscal third quarter ended Dec. 31, up from $281,000 in the year-earlier quarter.
U.S. Foodservice (UFS: Research, Estimates) up 6-3/4 to 25.
Dutch supermarket operator Ahold NV agreed to buy U.S. Foodservice for $26 per share. The deal to buy the second largest food service distributor in the United States is valued at $3.6 billion, including assumption of debt.
Techniclone Corp. (TCLN: Research, Estimates) up 2-3/16 to 14-1/2.
Biopharmaceuticals firms Techniclone and Oxigene Inc. said they signed a letter of intent to jointly develop and commercialize Techniclone's vascular targeting agent (VTA) technology. Oxigene will provide the project its next generation of tubulin-binding compounds for use in combination with the VTA technology. This contemplated joint venture will combine two of the most promising new vascular targeting technologies for the development of the next generation of cancer therapeutic agents.
Cypress Semiconductor Corp. (CY: Research, Estimates) up 3-3/8 to 50-5/16.
Cypress Semiconductor was upgraded by Morgan Stanley Dean Witter to strong buy from outperform.
IFS International Inc. (IFSH: Research, Estimates) up 3-1/16 to 7-7/16.
IFS International Inc. said it is working with Visa International to develop and test systems that comply with the Visa Cash Electronic Purse Specifications (VCEPS), based on the Common Electronic Purse Specifications (CEPS). The company's TPII product will be used in VCEPS test environments using Visa cash cards in Spain, Latin America and the United States. Visa will be able to offer its member banks a competitive system for acquiring and issuing multi-application smart cards.
Today's Losers
Cinar Corp. (CINR: Research, Estimates) down 12-5/16 to 5-15/16.
Two top executives of Cinar resigned and the chief financial officer was fired after the film company disclosed that $122 million was invested in bonds without its board's knowledge. Stock trading was suspended as the company announced that two outsiders have been appointed temporarily to run the company as it tries to get the money back and defends itself against earlier charges that it cheated to get federal subsidies for its animated children's film series.
VeriSign Inc. (VRSN: Research, Estimates) down 42-9/16 to 204-7/8.
Web security firm VeriSign Inc. said it will buy leading Internet domain name registrar Network Solutions Inc. in a stock deal valued at $21 billion. The surprise deal combines one of the top names in Internet security services with Network Solutions, which until recently had a virtual monopoly on assigning and recording names for the millions of dot.coms, dot.orgs and dot.nets that populate the Internet.
Clear Channel Communications Inc. (CCU: Research, Estimates) down 7-1/2 to 60-1/2.
Hispanic Broadcasting Corp. announced it agreed with subsidiaries of Clear Channel Communications Inc. and AMFM Inc. to acquire, for about $127 million in cash, the radio stations: KXPK broadcasting at 96.5 MHz serving the Denver market; KKFR (FM) broadcasting at 92.3 MHz serving the Phoenix market; and KEYI (FM) broadcasting at 103.5 MHz serving the Austin, Texas, market.
Procter & Gamble Co. (PG: Research, Estimates) down 27-3/16 to 60-1/4.
Procter & Gamble's stock plunged, helping to depress the Dow Jones industrial average in early trading, after the consumer products maker issued a disappointing earnings forecast. Management said it expects third-quarter earnings per share to be 10 percent to 11 percent below a year ago, compared with the company's previous estimate that its earnings would increase 7 percent to 9 percent. Per-share earnings for the fiscal year are now expected to be up about 7 percent versus the 13 percent increase P&G had previously anticipated, management said. 
--Compiled by staff writer Lucy Banduci
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