By Benjamin Pimentel
The technology sector traded higher Thursday, powered by gains
in shares of Internet giants Yahoo Inc. and eBay Inc.
Yahoo (YHOO) moved up 4.5%. On Wednesday, the company scored an
upgrade to buy from Bank of America/Merrill Lynch, which told
clients: "We believe that Yahoo is still a growth company which is
now trading like a long-term secular decliner."
Shares of eBay (EBAY) also gained, up 3.7%.
Those gains propelled the Nasdaq Composite Index (RIXF) to
positive territory, gaining 1.15% to close at 2,084. The tech-heavy
benchmark was also up 3.2% for the week.
Also higher, the Morgan Stanley High Tech 35 Index (MSH) rose
1.7%, while the Philadelphia Semiconductor Index (SOX) was up
1.8%.
Shares of Texas Instruments (TXN) were down 0.6% On Wednesday,
the chip giant raised its revenue and earnings outlook for the
third quarter.
Intel Corp. (INTC) also traded down 0.85%, while Advanced Micro
Devices (AMD) was ahead 3.5%.
Other major tech players posted gains, including Amazon.com
(AMZN), Oracle Corp. (ORCL) and Apple Inc. (AAPL).