By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks are seeing another
day of erratic trading Tuesday as the sector kept slipping into the
red, only to rebound briefly, before retreating again in what looks
like an ongoing tug-of-war for investors' sentiment.
Among leading tech stocks, Internet radio leader Pandora Media
Inc. (P) rose almost 4%, and Google Inc. (GOOGL), Netflix Inc.
(NFLX) and Yahoo Inc. (YHOO) were each up around 2%.
The Nasdaq Composite Index (RIXF) came back from a round of
losses to rise 18 points to 4.089. The tech-heavy market gauge is
trying to find some stability after losing almost 5% over the prior
three trading sessions.
The tech sector generally mirrored the movement of the broader
market, which also fluctuated. Adding to investors' concerns was a
new report from the International Monetary Fund, which said
economic shockwaves in emerging markets could end up negatively
impacting several Western economies.
Among other tech stocks, Amazon.com Inc. (AMZN) rose 2% to
$324.89 after the company cited new market data that said its Prime
Instant Video service usage tripled from a year ago, and that it
surpassed both Hulu and Apple Inc. (AAPL) in streaming video
use.
Yelp Inc. (YELP) shares rose 3% to $68.25 after SunTrust
Robinson Humphrey analyst Robert Peck raised his rating on the
online consumer review and information company to buy from neutral,
saying in a research note that Yelp's stock price valuation is more
supportive following a 33% decline in the past month.
More tech news from MarketWatch:
Why Amazon, Apple won't shake up TV
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