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Monday before-hours trade
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May 22, 2000: 9:25 a.m. ET
Hughes Electronics surges, GM falls Vignette dips on acquisition news
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NEW YORK (CNNfn) - Stock in Hughes Electronics Corp. surged in before-hours trading Monday, while General Motors tumbled.
GM (GM: Research, Estimates) shares lost 7-5/16 to 79-10/16, according to Instinet, while Hughes (GMH: Research, Estimates) shares gained 11-1/8 to 101 after GM said its offer to swap about 92 million Hughes shares for 86.4 million outstanding GM shares was significantly oversubscribed.
As a result GM said it was forced to limit shareholders to exchanging 25 percent of the GM shares they had hoped to replace.
Vignette fell after it announced plans to purchase OnDisplay Inc.
Vignette Corp. (VIGN: Research, Estimates) lost 4-13/16 to 39 on the Island electronic trading network. Vignette said it will acquire OnDisplay Inc (ONDS: Research, Estimates) in a stock swap between the Internet commerce software and infrastructure companies valued at $1.7 billion.
 Vignette will issue 1.58 shares for each share of San Ramon, Calif.-based OnDisplay.
The companies' products and services allow businesses to automate transactions between suppliers and customers and allow a company to better coordinate its operations with technology.
Nortel Networks (NT: Research, Estimates) rose 2-7/8 to 55-3/8, according to Reuters news agency. The world's No. 2 telecom equipment supplier said it had been selected by BT Cellnet as principal supplier of its third generation (3G) wireless system in the U.K market.
Yahoo! Inc. rose on Island after a favorable SEC ruling Friday.
Yahoo! (YHOO: Research, Estimates) moved up 1-15/16 to 122-1/4, according to Island, recouping some of its losses last week.
 Yahoo lost 11-11/16 in regular trading Friday. But late Friday, the Securities and Exchange Commission said it will approve Yahoo!'s application not to be regulated as a mutual fund unless the regulators choose to order a hearing into the matter.
The Internet portal, which holds large investments in other companies, applied to the SEC in February for an exemption from the tighter investment restrictions it would have faced if it were an investment company.
Lycos (LCOS: Research, Estimates) rose 1-7/16 to 59-9/16 on Island after the Web portal announced an agreement Monday with Quack.com to provide voice-activated access to the Internet.
The new voice portal will provide telephone users anywhere with free access to Web content and services by dialing a toll free number and speaking. Users will be able to hear their email read to them, check stock prices, weather and movie listings from a home, cellular or pay phone, the companies said.
Also on Island, Intel (INTC: Research, Estimates) edged up 3 /16 to 118-1/6, Cisco Systems (CSCO: Research, Estimates) rose 3/16 to 53-5/8 and Microsoft (MSFT: Research, Estimates) lost 1/16 to 65. 
-- compiled by Antoinette Coulton from staff and wire reports
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