Saturday, February 23, 2013

Tech Stocks: Techs sink with Apple, Facebook; Google up

By Benjamin Pimentel, MarketWatch

SAN FRANCISCO (MarketWatch) ? Technology stocks took another hit Thursday morning following a harsh selloff in the previous session, as large-cap players like Facebook, Oracle and Intel came under selling pressure.

Apple CEO Tim Cook, left, and hedge-fund manager David Einhorn.

Apple /quotes/zigman/68270/quotes/nls/aapl AAPL -0.93% ?was also down, slipping about 0.4% to $447.05 ahead of a planned conference call by hedge-fund giant David Einhorn, who is pressing the company to consider issuing a special preferred stock grant. Einhorn plans to host a conference call at 2 p.m. ET.

In an interview with AllThingsD, Einhorn said his proposal offers a ?win-win? for both Apple and its shareholders. ?We have a solution that allows shareholders to see that value and Apple to keep that cash,? he added. See: Einhorn on 'win-win' proposal to Apple

Apple?s retreat set the tone for a downbeat trading session, which saw the Nasdaq Composite Index /quotes/zigman/12633936 COMP -1.16% ?give up 0.6% to stand at 3,147. The Morgan Stanley High-Tech Index /quotes/zigman/6015481 MSH -1.40% ?and Philadelphia Semiconductor Index /quotes/zigman/1468249 SOX -1.97% ?both fell more than 1% in early trades.

The tech sector retreat followed Wednesday?s broader market selloff sparked by investor concern over the Federal Open Market Committee?s January meeting minutes that revealed differences over monetary policy. See: Market Snapshot.

Among large-cap tech names, Oracle /quotes/zigman/76584/quotes/nls/orcl ORCL -1.80% ?, SAP /quotes/zigman/126928/quotes/nls/sap SAP -1.92% ?, Intel /quotes/zigman/20392/quotes/nls/intc INTC -2.29% ?, Cisco /quotes/zigman/20039/quotes/nls/csco CSCO -1.30% ?and Microsoft /quotes/zigman/20493/quotes/nls/msft MSFT -1.36% ?were all trading down more than 1%. Facebook /quotes/zigman/9962609/quotes/nls/fb FB -3.56% ?was off more than 3% to $27.58.

Also in the red were shares of Hewlett-Packard /quotes/zigman/229301/quotes/nls/hpq HPQ +0.24% ?which were down a fraction at $16.64 ahead of the Palo Alto, Calif.-based company?s fiscal first-quarter report. See: H-P seen posting earnings drop.

Sony shows features of PS4

Sony is reinventing the PlayStation video game console, demonstrating faster, graphics-rich hardware with new Internet-based features; Ford adds 450 new jobs to its Cleveland plant; Congress proposes a high-tech ID in immigration talks.

Shares of VeriFone /quotes/zigman/365296/quotes/nls/pay PAY -39.75% ?were also in full retreat mode, plummeting 38% to $19.80 after the company drastically cut its estimates for its fiscal first quarter.

On the upside, shares of Google Inc. /quotes/zigman/93888/quotes/nls/goog GOOG +0.24% ?were up more than 0.8% at $801.59. The Internet powerhouse?s stock hit an all-high recently, rising above $800 for the first time in its history.

And the stock will probably go higher, Bernstein Research analyst Carlos Kirjner argues in a note raising the price target to $1,000. ?We believe mass adoption of smart phones, tablets and the mobile Web is a large value creation opportunity for Google,? Kirjner wrote.

Groupon /quotes/zigman/7212269/quotes/nls/grpn GRPN +4.29% ?also traded up 6% on a Piper Jaffray upgrade. Shares of Home Away /quotes/zigman/5675710/quotes/nls/away AWAY +9.82% ?also rallied more than 13% after the online home vacation and rental marketplace company posted upbeat results.

/quotes/zigman/68270/quotes/nls/aapl

US : U.S.: Nasdaq

Volume: 8.88M

Feb. 21, 2013 12:55p

Market Cap

$421.50 billion

/quotes/zigman/12633936

US : U.S.: Nasdaq

Volume: 0.00

Feb. 21, 2013 12:55p

/quotes/zigman/6015481

US : NYSE Glb Ind

Volume: 0.00

Feb. 21, 2013 12:55p

/quotes/zigman/1468249

US : PHLX Ind Cur

Volume: 0.00

Feb. 21, 2013 12:40p

/quotes/zigman/76584/quotes/nls/orcl

US : U.S.: Nasdaq

Volume: 9.62M

Feb. 21, 2013 12:54p

Market Cap

$165.72 billion

Rev. per Employee

$323,739

/quotes/zigman/126928/quotes/nls/sap

US : U.S.: NYSE

Volume: 795,256

Feb. 21, 2013 12:55p

Rev. per Employee

$375,766

/quotes/zigman/20392/quotes/nls/intc

US : U.S.: Nasdaq

Volume: 35.25M

Feb. 21, 2013 12:55p

Market Cap

$102.53 billion

Rev. per Employee

$532,877

/quotes/zigman/20039/quotes/nls/csco

US : U.S.: Nasdaq

Volume: 18.57M

Feb. 21, 2013 12:54p

Market Cap

$112.53 billion

Rev. per Employee

$709,074

/quotes/zigman/20493/quotes/nls/msft

US : U.S.: Nasdaq

Volume: 27.69M

Feb. 21, 2013 12:55p

Market Cap

$233.45 billion

Rev. per Employee

$774,085

/quotes/zigman/9962609/quotes/nls/fb

US : U.S.: Nasdaq

Volume: 30.96M

Feb. 21, 2013 12:55p

/quotes/zigman/229301/quotes/nls/hpq

US : U.S.: NYSE

Volume: 8.40M

Feb. 21, 2013 12:55p

Rev. per Employee

$361,465

/quotes/zigman/365296/quotes/nls/pay

US : U.S.: NYSE

Volume: 22.71M

Feb. 21, 2013 12:55p

Rev. per Employee

$374,919

/quotes/zigman/93888/quotes/nls/goog

US : U.S.: Nasdaq

Volume: 2.25M

Feb. 21, 2013 12:54p

Market Cap

$262.41 billion

Rev. per Employee

$927,536

/quotes/zigman/7212269/quotes/nls/grpn

US : U.S.: Nasdaq

Volume: 11.83M

Feb. 21, 2013 12:54p

Rev. per Employee

$190,771

/quotes/zigman/5675710/quotes/nls/away

US : U.S.: Nasdaq

Volume: 2.75M

Feb. 21, 2013 12:55p

Benjamin Pimentel is a MarketWatch reporter based in San Francisco. Follow him on Twitter @BenPimentel.

Source: http://feeds.marketwatch.com/~r/marketwatch/software/~3/nNMj66uDToI/story.asp

safe house jay z and beyonce baby cpac powell the last lecture kim jong un josh powell

No comments:

Post a Comment