By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) ? Shares of Apple Inc., Nvidia Corp. and Facebook Inc. posted solid gains Monday morning, but the rest of tech sector was weighed down as the broad market slipped into the red following an initial gain.
Apple /quotes/zigman/68270/quotes/nls/aapl AAPL +1.03% ?rose 1% to $586.30 in early trades ahead of the company?s annual developer?s conference in San Francisco. A pair of brokers issued bullish notes on the company?s key iPhone business line, though the conference itself is expected to focus mainly on software updates. Read The Tell on Apple's shares.
The broader tech sector slipped as the market gave up earlier gains. The Nasdaq Composite /quotes/zigman/123127 COMP -0.29% ?was down about 0.1% to 2,855 while the Morgan Stanley High-Tech Index /quotes/zigman/6015481 MSH -0.71% ?dropped by 0.3% and the Philadelphia Semiconductor Index /quotes/zigman/1468249 SOX -0.69% ?fell by 0.1%.
The market got an early boost following Spain?s request for financial aid, but those gains later evaporated. The Dow was in slightly negative territory at last check, while the S&P 500 was flat. Read Market Snapshot.
/quotes/zigman/80597/quotes/nls/nvda NVDA 12.32, +0.20, +1.64%Nvidia /quotes/zigman/80597/quotes/nls/nvda NVDA +1.64% ?was ahead by nearly 2% to $12.35 as the chip maker got a lift from UBS, which upgraded the stock to buy from neutral, citing potential growth opportunities in the consumer and corporate markets.
Analyst Uche Orji particularly cited Nvidia?s strong position in the market for tablets based on Microsoft Corp?s Windows 8 operating system and chips using the technology of ARM Holdings /quotes/zigman/67211/quotes/nls/armh ARMH +0.08% ?. A new tablet based on Nvidia?s technology, he argued, ?will solidify its non-Apple tablet leadership position in the ARM camp.?
Nvidia was one of the top performers on the S&P 500 /quotes/zigman/3870025 SPX -0.27% ?which was down a fraction.
Facebook Inc /quotes/zigman/9962609/quotes/nls/fb FB +1.82% ?also got a boost from an upbeat analyst review after Needham?s Laura Martin reiterated a buy rating on the social networking giant?s stock. Facebook was trading up about 1.5% to $27.56 start the week on a positive note, after three straight weeks of losses.
Apple kicks off developer event
Muslims and Buddhists clash in western Myanmar; Asian markets rally on the bailout of Spanish banks; Apple prepares to release new software; and researchers in Japan have found a way to trick the body into eating less with 'diet goggles.'
Martin noted growing concerns about the effectiveness of advertising on Facebook, but also pointed to recent acquisitions of social marketing companies by Oracle Corp. /quotes/zigman/76584/quotes/nls/orcl ORCL +0.02% ?and Salesforce.com /quotes/zigman/338061/quotes/nls/crm CRM -2.48% ?
?These commitments of new money to the social space, of which Facebook is the anchor tenant, imply that well-regarded public companies are valuing Facebook more robustly than investors are valuing Facebook,? she wrote.
The tech sector was weighed down by fractional declines in shares of other major tech issues, led by Intel Corp. /quotes/zigman/20392/quotes/nls/intc INTC -0.83% ?, Microsoft Corp /quotes/zigman/20493/quotes/nls/msft MSFT -1.18% ?, Cisco Systems /quotes/zigman/20039/quotes/nls/csco CSCO +0.12% ?and Hewlett-Packard /quotes/zigman/229301/quotes/nls/hpq HPQ -1.21% ?.
/quotes/zigman/68270/quotes/nls/aapl
US : U.S.: Nasdaq
Volume: 6.52M
June 11, 2012 11:17a
Market Cap$542.64 billion
/quotes/zigman/123127 US : U.S.: Nasdaq
Volume: 0.00
June 11, 2012 11:17a
/quotes/zigman/6015481 US : NYSE Glb Ind
Volume: 0.00
June 11, 2012 11:17a
/quotes/zigman/1468249 US : PHLX Ind Cur
Volume: 0.00
June 11, 2012 11:02a
/quotes/zigman/80597/quotes/nls/nvda US : U.S.: Nasdaq
Volume: 5.04M
June 11, 2012 11:17a
Rev. per Employee$555,274
/quotes/zigman/67211/quotes/nls/armh US : U.S.: Nasdaq
Volume: 515,585
June 11, 2012 11:17a
Rev. per Employee$374,199
/quotes/zigman/3870025 US : S&P Base CME
Volume: 156.90M
June 11, 2012 11:17a
/quotes/zigman/9962609/quotes/nls/fb US : U.S.: Nasdaq
Volume: 10.92M
June 11, 2012 11:17a
/quotes/zigman/76584/quotes/nls/orcl US : U.S.: Nasdaq
Volume: 7.60M
June 11, 2012 11:17a
Market Cap$135.12 billion
Rev. per Employee$342,407
/quotes/zigman/338061/quotes/nls/crm US : U.S.: NYSE
Volume: 905,935
June 11, 2012 11:17a
Rev. per Employee$315,689
/quotes/zigman/20392/quotes/nls/intc US : U.S.: Nasdaq
Volume: 8.77M
June 11, 2012 11:17a
Market Cap$132.87 billion
Rev. per Employee$540,040
/quotes/zigman/20493/quotes/nls/msft US : U.S.: Nasdaq
Volume: 13.48M
June 11, 2012 11:17a
Market Cap$249.09 billion
Rev. per Employee$811,589
/quotes/zigman/20039/quotes/nls/csco US : U.S.: Nasdaq
Volume: 6.77M
June 11, 2012 11:17a
Rev. per Employee$634,403
/quotes/zigman/229301/quotes/nls/hpq US : U.S.: NYSE
Volume: 2.92M
June 11, 2012 11:17a
Rev. per Employee$355,412
Benjamin Pimentel is a MarketWatch reporter based in San Francisco.
nba all star reserves rock center christine christine will ferrell double fine adventure turbo tax
No comments:
Post a Comment