By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks rose Monday, as
advances from the likes of Apple Inc. helped the sector add to last
week's gains.
Apple (AAPL) continued its recent strong performance, rising to
an all-time high of $109.90. A report in The Wall Street Journal
said Apple will be speaking with investors Monday about the
possibility of a sale of new bonds. The Journal said Deutsche Bank
and Goldman Sachs are setting up the call for Apple, and that the
company may issue at least some debt in euros.
Also, a report from the Web site 9to5Mac.com said Apple is
planning on launching its Apple Watch in the spring of 2015. Apple
has not set a release date for the watch.
GoPro Inc. (GPRO) jumped almost 7% to $82.48 as investors
remained enthusiastic about the digitial-camera maker's upbeat
earnings report last week.
Chinese e-commerce leader Alibaba Group (BABA) climbed more than
2% at $100.71 in advance of the company's first earnings report as
a publicly traded company, due ahead of Tuesday's market open.
Twitter Inc. (TWTR) lost 1.6% at $40.80, while Facebook Inc.
(FB) edged up by 5 cents a share to $75.01 and Google Inc. (GOOGL)
shed 1% to $562.96. Before the market opened, Morgan Stanley
analyst Benjamin Swinburne initiated coverage on Twitter and Google
with equal-weight, or neutral ratings, and started covering
Facebook with an overweight rating.
Priceline.com Inc. (PCLN) advanced 1.6% to $1,224.15 ahead of
the online travel agency's third-quarter earnings report, due
before the start of trading on Tuesday.
The tech-heavy Nasdaq Composite Index (RIXF) rose 12 points to
4,642, while the Philadelphia Semiconductor Index (SOX) was up
almost 1%.
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