By Rex Crum
Tech stocks mostly rose Thursday, with Adobe Systems Inc.
standing out as the software company got a big boost following
Apple Inc.'s announcement that it will lift many restrictions on
applications used to write programs for Apple iPhone App Store.
Adobe (ADBE) rose $3.55 a share, or 12%, to close at $32.86
after Apple (AAPL) said it would lift some restrictions on
third-party software tools that would translate program codes. The
move means that developers who use Adobe's Flash programming
language will now be able to convert their programs into App Store
applications that can then run on the iPhone, iPad or iPod
touch.
Apple also said it will publish the guidelines it uses to
approve what programs can be sold in its App Store. The company had
received many complaints from developers about the previously
secret rules Apple used to determine what apps it would accept.
Apple shares rose 15 cents to $263.07.
Among other tech stocks, gains came from Oracle Corp. (ORCL),
Micron Technology Inc. (MU), Google Inc. (GOOG), Hewlett-Packard
Co. (HPQ) and Microsoft Corp. (MSFT).
Texas Instruments Inc. (TXN) rose 16 cents a share to close at
$23.84 ahead of a mid-quarter update from the semiconductor
company.
The Nasdaq Composite Index (RIXF) rose 7 points to 2,236. The
Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High
Tech 35 Index (MSH) also posted small gains.
The sector also rose along with the broad market following a
somewhat upbeat report on first-time claims for state unemployment
benefits. The Labor Department said that during the week of Sept.
4, the number of first-time claims fell by 27,000, to 451,000,
their lowest level since July.