“Mild gains came from Amazon.com Inc. Wednesday, but the overall tech sector remained in the red as Deustche Bank cut its view on Microsoft Corp. and several other software companies,” Rex Crum reports for MarketWatch.
“Microsoft was among the decliners, giving up almost 1%, to trade at $34.74, as Deutsche Bank cut its rating on the company to hold from buy,” Crum reports. “VMware Inc. shares shed 1% to $67.80. Intuit Inc. was also down slightly, at $57.42 a share, as Deutsche Bank also cut the ratings on the software companies to hold from buy.”
Crum reports, “Losses also came from Apple Inc., IBM Corp., Hewlett-Packard Co., Yahoo Inc., eBay Inc. and Intel Corp. The Nasdaq Composite Index fell 13 points to 3,422, while the Philadelphia Semiconductor Index gave up almost 1%.”
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