TECH STOCKS: Tech Stocks Edge Up, Led By Oracle, RIM

Date : 12/17/2010 @ 4:38PM
Source : Dow Jones News
Stock : Take-Two Interactive Software, Inc. (MM) (TTWO)
Quote : 77.5364  -0.9936 (-1.27%) @ 12:33PM

TECH STOCKS: Tech Stocks Edge Up, Led By Oracle, RIM

Oracle Corp. (NYSE:ORCL)
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By Benjamin Pimentel, MarketWatch

SAN FRANCISCO (MarketWatch) -- Technology stocks edged higher Friday, as shares of Oracle Corp. jumped nearly 4% a day after the software giant posted upbeat results.

Oracle (ORCL) rose 3.9% to close at $31.46, as the Redwood City, Calif.-based tech giant beat Wall Street's expectations.

"Oracle provided a holiday present for shareholders by easily exceeding expectations for the November quarter and impressively, guidance for the February quarter was well above consensus estimates," J.P. Morgan analyst John DiFucci said in a note.

Shares of Research In Motion (RIMM) were up 1.6% to close at $60.20, after the maker of the BlackBerry device reported a 45% jump in profit.

Shares of Take-Two Interactive (TTWO) jumped 8.3% to close at $12.93, after the video game publisher reported results showing it swinging to a profit.

The triple play helped keep the sector afloat, as the Nasdaq Composite Index (RIXF) held on to modest gains, rising 0.2% to close at 2,643.

The Morgan Stanley High Tech 35 Index (MSH) rose 0.4%, while the Philadelphia Semiconductor Index (SOX) was up 0.7%.

But the sector was weighed down by losses in shares of Google Inc. (GOOG) , Cisco Systems (CSCO) and eBay Inc.(EBAY) .

 
 

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