By Benjamin Pimentel
The tech sector edged lower Thursday, weighed down by losses in
shares of eBay Inc., which fell more than 6% after the Internet
giant reported a drop in third-quarter earnings.
EBay (EBAY) was off 6.5%, a day after the company also issued a
weaker-than-expected outlook.
Shares of EMC Corp. (EMC) also fell, down 2.6%, after the
storage technology company also reported lower third-quarter
profit.
The declines helped set the broader trading tone as the Nasdaq
Composite Index (RIXF) retreated by a fraction to 2,142.
The Morgan Stanley High Tech 35 Index (MSH) fell further, down
0.9%, while the Philadelphia Semiconductor Index (SOX) was off by
0.6%.
Lam Research Corp. (LRCX) offered a ray of hope, its shares
rising more than 3%, after the semiconductor equipment maker
reported a higher quarterly profit.
Gains also came from major tech players including Dell Inc.
(DELL), Google Inc. (GOOG) and Apple Inc. (AAPL).
But other companies were in the red, including Microsoft Corp.
(MSFT), Hewlett-Packard (HPQ) and Advanced Micro Devices (AMD).