By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks put in a mixed
performance Tuesday as investors awaited the second-quarter
quarterly results from social-media company Twitter Inc., due after
the close of trading.
Twitter (TWTR) shares rose 1.7% to close at $38.2 as analysts
surveyed by FactSet have forecast the company to reports a loss of
a penny a share on $283.4 million in revenue for the quarter ended
in June. During the year-ago period, Twitter lost 12 cents a share
on sales of $139.3 million. The company is under pressure due to
concerns about slowing growth of its user base. Its share price has
fallen 40% this year.
With Twitter under the microscope, gains came from other
Internet stocks such as Priceline.com Inc. (PCLN), eBay Inc. (EBAY)
and Pandora Media Inc. (P).
Synchronoss Technologies Inc. (SNCR), which provides software
that activates and connects mobile devices and communications
networks, surged by more than 14% to close at $39.72. Before the
market opened Tuesday, Synchronoss reported better-than-expected
second-quarter results.
Online real-estate information company Zillow Inc. (ZILLOW.XX)
fell 6.5% to $149.87 one day after it said it would acquire rival
Trulia Inc. (TRLA) for $3.5 billion in stock. Trulia's shares also
fell by 4.4%, to $62.20.
Among tech bellwethers, declines came from Microsoft Corp.
(MSFT), Apple Inc. (AAPL), Facebook Inc. (FB) and Netflix Inc.
(NFLX).
The tech-heavy Nasdaq Composite Index (RIXF) rose gave up its
gains to shed 2 points and close at 4,442, while the Philadelphia
Semiconductor Index (SOX) closed with a small loss.
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