TECH STOCKS: Techs Eke Gain As Apple Rises; TI Sinks

Date : 12/09/2009 @ 4:31PM
Source : Dow Jones News
Stock : Verisign, Inc. (MM) (VRSN)
Quote : 108.94  0.75 (0.69%) @ 6:00PM

TECH STOCKS: Techs Eke Gain As Apple Rises; TI Sinks

Verisign, Inc. (MM) (NASDAQ:VRSN)
Historical Stock Chart

5 Years : From Oct 2012 to Oct 2017

Click Here for more Verisign, Inc. (MM) Charts.

By Benjamin Pimentel

The technology sector eked modest gains Wednesday, bouncing back from the red, as shares of Texas Instruments Inc. fell on what likely was a wave of profit-taking, analysts said.

After struggling earlier in the day, the Nasdaq Composite Index (RIXF) gained 0.5% to close at 2,184.

TI was in the spotlight after the Dallas-based chip giant (TXN) narrowed its earnings outlook late Tuesday, pointing to a strong fourth quarter, but some analysts said investors' expectations may have been overheated.

"I think the sentiment has gone a bit too high," Wedbush analyst Patrick Wang said in a telephone interview Tuesday, noting that the stock's decline after the company's midquarter update may have been due to investors taking profits.

In a note Wednesday, Wang wrote that TI management "continues to flawlessly execute on its analog/embedded strategy, driving share gains and outsized growth in today's recovering economy."

Shares of TI fell 1.3% to close at $25.99.

TI's downward trajectory had set the tone for the sector, but stocks recovered as the day ended. The Morgan Stanley High Tech 35 Index (MSH) rose 0.7%, while the Philadelphia Semiconductor Index (SOX) added 0.6%.

There were some bright spots. Shares of Apple Inc. (AAPL) gained 4.2% after an Oppenheimer analyst said the consumer-electronics maker is ramping up production on a much-anticipated tablet.

RealNetworks Inc. (RNWK) saw its shares rise more than 15% after J.P. Morgan upgraded the digital-media firm's stock to neutral from underweight, citing a better-than-expected ruling in its arbitration with VeriSign Inc. (VRSN) VeriSign was down 1.2%.

Rambus Inc. (RMBS) rose more than 3% after the chip-design company reached a settlement with the European Commission in a dispute over patent royalties.

 
 

Latest VRSN Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.