By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks were mixed in
Tuesday's trading session, with gains from Rackspace Hosting Inc.
standing out following the company's upbeat first-quarter earnings
results.
Rackspace (RAX), which provides Web-hosting services data
centers and businesses using cloud-computing technologies, was up
by 12% at $30.84 a share. On Monday, Rackspace reported a profit of
$25.4 million, or 18 cents a share, on $421 million in sales,
compared with earnings of $27.3 million, or 19 cents a share, on
revenue of $362.2 million a year ago. Analysts surveyed by FactSet
had forecast Rackspace to earn 12 cents a share on $419.3 million
in sales.
DirecTV (DTV) shares rose almost 2%, to $88.71 following reports
that AT&T Inc. (T) could finalize a deal to acquire the
satellite TV company within two weeks.
EBay Inc. (EBAY) was up by 10 cents a share at $51.43 as the
e-commerce giant prepared to hold its annual shareholders meeting
Tuesday.
Apple Inc. (AAPL) rose 65 cents a share to $593.53 as investors
awaited a possible announcement that the company will acquire Beats
Electronics for $3.2 billion in a deal that could bring longtime
music executive Jimmy Iovine into Apple's executive ranks.
The tech-heavy Nasdaq Composite Index (RIXF) rose 7 points to
4,151 while the Philadelphia Semiconductor Index (SOX) edged into
positive territory.
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