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

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

TECH STOCKS: Groupon, Amazon, Netflix Pace Tech Gains

02/13/2013 | 05:16pm US/Eastern

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

React to this article
Latest news
Date Title
08:07a SmartBear’s CMO Invited to Speak at INBOUND 2015
08:07a UNIKRN : Introduces Unikoins and Launches Global Platform for Everyone
08:07a AICPA Solicits Feedback with Exposure Draft on Next Version of the CPA Exam
08:07a TIDEWORKS TECHNOLOGY : Launches Forecast Mobile Lite at Conley Terminal in the Port of Boston
08:07a HERSHEY : Ranked a Top 10 Brand for Millennials by VoxBurner
08:06a CORERO NETWORK SECURITY : AirGate Further Secures Next Generation Network with Value-Added DDoS Protection Services
08:06a ZEFR : Hires Tom Furukawa as Head of Product to Drive New Innovation in the Company’s Advertising and Media Technology Offerings
08:06a AMBER ROAD : JACOBS DOUWE EGBERTS Chooses Amber Road Solution to Reduce Risk for its Worldwide Coffee and Tea Business
08:06a Karaoke Party Game Let’s Sing 2016 Arrives This Fall Announces Maximum Games
08:06a TEVA PHARMACEUTICAL : Announces U.S. Availability of ZECUITY® (sumatriptan iontophoretic transdermal system), First and Only Transdermal Patch System for the Acute Treatment of Migraine
Latest news
Advertisement
Hot News 
BANCO ESPIRITO SANTO : Release concerning the disclosure of the financial information concerning the first half of 2015
HAVELOCK EUROPA : Issues Profit Warning Amid Restructuring Plans
CORERO NETWORK SECURITY : AirGate Further Secures Next Generation Network with Value-Added DDoS Protection Services
SNOOZEBOX : Loss Widens On Investments, But Sales Grow Strongly
LATCHWAYS : MSA : Safety Incorporated to Acquire Latchways plc
Most Read News
08/31 ECB's New Guideline On Monetary Policy Implementation
08/31 SofTech Announces Q4 and FY 2015 Operating Results
08/31 FHLBank San Francisco Releases July 2015 Cost of Funds Index
08/31 KWANG SUNG ELECTRONICS H K : Appointment of Executive Director and Grant of Share Option
08/31 Fitch Maintains Freescale on Watch Positive Ahead of Merger with NXP
Most recommended articles
08:05aDJMarissa Mayer Expecting Twins
08:05aDJCommerzbank to Start Operations in Brazil
07:42aDJEUROPE MARKETS : European Markets Fall As Weak Factory Data Piles On Pressure
07:35a China jitters send stocks tumbling
07:35aDJPortuguese Central Bank Ends Talks With Anbang Over Novo Banco Sale