“Technology stocks mostly gave up early session gains Wednesday as broad-market concerns over oil prices and the nation’s manufacturing levels offset gains from Amazon.com Inc. and Broadcom Corp,” Rex Crum reports for MarketWatch.
“The tech-heavy Nasdaq Composite Index ($COMPQ: 2,603.87, -48.41, -1.8%) fell 33 points to 2,619, while the Morgan Stanley High Tech 35 Index (MSH: 610.29, -12.21, -2.0%) and the Philadelphia Semiconductor Index ($SOX: 394.52, -13.52, -3.3%) also lost ground,” Crum reports. “Leading the decline was a spike in crude-oil prices, which sent prices up almost $2 a barrel.”
Crum reports, “Bellwether tech stocks in the red included Apple Inc. (AAPL: 193.77, -4.31, -2.2%) , Microsoft Corp. (MSFT: 35.14, -0.46, -1.3%) , Hewlett-Packard Co. (HPQ: 49.81, -0.67, -1.3%) and Cisco Systems Inc. (CSCO: 26.24, -0.83, -3.1%) . IBM Corp. (IBM: 104.74, -3.36, -3.1%) shares fell $3.12, or almost 3%, to $104.98 after the company said it would acquire XIV, a privately held storage technology company based in Tel Aviv.”
More in the full article here.
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