Here are some closing market summaries for Thur, Jun 1, 2006: Tech sector gains, Rambus, Vonage:

• NEWS:

• The markets were back up today, mainly due to a variety of tech gains. For example, Rambus (NYSE: RMBS) gained ~$4 per share, primarily due to a suit against other memory manufacturers.

• How low can they go? Vonage (NYSE: VG) has now announced that they will not buy back shares from customers who are reneging on their intent to buy reserved IPO shares. [via CNBC’s Closing Bell show] Note that these are specifically Vonage customers, who were given a chance at shares at the IPO intial offering price, not normal brokerage customers. My take on all this is that the stock will continue to fall for a while, then Vonage will either announce some great new hardware or software, or they’ll tank and get taken over and their services revamped. One other possibility, put forth on Closing Bell, is that the SEC may force Vonage to redo their IPO. Either way, something big is going to happen.

DISCLAIMER: I do not own shares in any of the companies listed, unless otherwise noted. The suggestions below may not be considered investment advice, and I am not responsible for your purchases or sales. You trade at your own risk. If you disagree, please visit elsewhere.

Tags: worldwealthview, world wealth view, Rambus, Vonage, VoIP