Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

TECH STOCKS: Groupon, Amazon, Netflix Pace Tech Gains

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/13/2013 | 11:16pm CEST

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks showed some muscle Wednesday, with gains from Groupon Inc., Amazon.com Inc. and Netflix Inc. helping to counter losses elsewhere in the sector.

Groupon (>> Groupon Inc) shares rose 5.4%, to close at $5.58, after Sterne Agee analyst Arvind Bhatia raised his rating on the online daily deals and e-commerce company to buy from neutral and set a $9-a-share price target on the stock.

In a research note, Bhatia said his upgrade wasn't based on expectations for Groupon's upcoming fourth-quarter results, but on a "greater conviction in the company's ability to evolve beyond its current business, its ability to execute internationally and its positioning within mobile commerce."

Amazon (>> Amazon.com, Inc.) shares rose more than 4%, to end the day at $269.47. The company announced an expanded content-licensing agreement with CBS Corp. (>> CBS Corporation). The deal adds CBS and Showtime shows such as "Everybody Loves Raymond" and "United States of Tara" to the Amazon Prime Instant Video lineup.

Netflix (>> Netflix, Inc.) also had a strong day, rising 4.7% to end the day at $186.27. J.P. Morgan analyst Doug Anmuth raised his price target on Netflix's stock to $205 a share from $180, saying that recent meetings with company management suggest that Netflix's original series "House of Cards" is off to a strong start just 12 days after release.

Anmuth also said that Netflix is likely to push further into original programming "as it looks to differentiate itself from other streaming services such as Amazon Prime and Hulu, along with cable networks like HBO (>> Time Warner Inc.) and Showtime."

Dell Inc. (>> Dell Inc.) shares gave up 2 cents to close at $13.77. Bernstein Research analyst Toni Sacconaghi cut his rating on the PC maker to market perform, or neutral, from outperform, and said in a research note that he believes the company's plan to go private will succeed.

Cisco Systems Inc. (>> Cisco Systems, Inc.) closed with a gain of 17 cents a share at $21.14 in advance of the company's quarterly results, due after the close of trading.

Among tech companies slated to report quarterly results after the market close NetApp Inc. (>> NetApp Inc.) rose 1.2% to close at $35.82 and Applied Materials Inc. (>> Applied Materials, Inc.) edged up by 11 cents a share to close at $13.77. Online professional review company Angie's List Inc. (>> Angie's List Inc) and graphics chip company Nvidia Corp. (>> NVIDIA Corporation) closed in the red.

The Nasdaq Composite Index (RIXF) rose more than 10 points to close at 3,196, and the Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) also ended the day in positive territory.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
10:02a CLEARSTAR : Cuts Forecasts As New Products And Strategic Review Launched
10:02a PM ABE ADVISER : Japan should go ahead with planned sales tax hike next year
10:01a ROYAL DUTCH SHELL A : Differences between Iran, Shell over crude deal seem to grow
10:01a NPC : Announcement on Joint Venture Establishment
10:01a SONY : Consolidated Results Forecast for the Fiscal Year Ending March 31, 2017
10:01a ISE IRISH STOCK EXCHANGE : Preliminary Results for Year Ended 31 March 2016
10:01a DESTATIS FEDERAL STATISTICAL OFFICE OF GERMANY : Detailed gross domestic product results for the 1st quarter of 2016
10:01a PRODUCTION ASSOCIATION BELORUSNEFT : Hydraulic fracturing in Krasnodar
10:01a SHINKO ELECTRIC : GE & SHINKO to Commercialize Advanced Electronics Packaging Solution
10:01a SOFTWARE AG’S ARIS COMMUNITY HITS 400,000-MEMBER MILESTONE PUBLISHED : 5/24/2016
Latest news
Advertisement
Hot News 
U.K. Region Approves First Fracking Permit Since 2011
Brodsky & Smith, LLC Announces Investigation of The Board of Directors of XenoPort, Inc. -XNPT
CONYGAR INVESTMENT : 24 May 2016 - Interim Results
COCA COLA HBC : New Argen Raises GBP71 Million In Coca-Cola HBC Share Placing (ALLISS)
DGAP-NEWS : MeVis Medical Solutions AG: MeVis Q1 2016: Solid start into the new year
Most Read News
05/23 PETE OLSON : Olson Applauds House Action Naming Post Office After Fallen Marine Garrett Gamble
Most recommended articles
05/17DJU.S. Grains, Soybeans Climb Amid Fund Buying
03:56aDJEl Niñ o Draws to an End
03:44aDJRio Tinto Appoints New Head of Technology and Innovation
03:40aDJDe Beers Rough Diamond Sales Ebb but Demand Still Stable
03:39a BNP Paribas to close Cayman Islands business - Attac website