By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks mostly retreated
Thursday, with the notable exception of online retailer Zulily
Inc., on a day in which many investors await the public debut of
digital-sport camera maker GoPro Inc.
Zulily (ZU) rose almost 3% to $40.97 after RBC Capital Markets
analyst Mark Mahaney raised his rating on the online retailer of
clothing for children and women to outperform from sector perform.
Mahaney cited high customer-satisfaction data and expansion beyond
children's apparel among the reasons for his upgrade. Mahaney left
his $50-a-share price target on Zulily's stock unchanged.
It was the second upgrade in as many days for Zulily. On
Wednesday, Goldman Sachs analyst Debra Schwartz raised her rating
on Zulily to buy from neutral and lifted her price target to $50 a
share from $47.
Other mild gains came from Twitter Inc. (TWTR), Groupon Inc.
(GRPN), Yahoo Inc. (YHOO) and Hewlett-Packard Co. (HPQ)
Many eyes were expected to focus on GoPro (GPRO) after the
digital camera company set an IPO price of $24 a share late
Wednesday. The company raised $427 million after offering 17.8
million shares for sale.
The tech-heavy Nasdaq Composite Index (RIXF) fell 20 points to
4,359, while the Philadelphia Semiconductor Index (SOX) was off by
almost 1%.
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