By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks were mostly
higher Monday, pushing the Nasdaq Composite Index back above
4,000.
The Nasdaq (RIXF) rose 22 points, or 0.6%, to 4,022 as the
Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia
Semiconductor Index (SOX) each also moved up.
Internet and social media stocks led the rally, with Google
(GOOG) and Yahoo (YHOO) each climbing 1%, Facebook (FB) up 1.3% and
Twitter (TWTR) gaining 1.7%.
Twitter disclosed in a regulatory filing on Monday that
co-founders Jack Dorsey and Evan Williams as well as Chief
Executive Richard Costolo have no plans to sell any of their
shares.
Twitter also said Benchmark venture-capital funds, which are
affiliated with a Twitter director, told the company they have "no
present intention to sell or distribute stock to their limited
partners before or immediately after the expiration of our lockup
on May 5, 2014."
Other notable gainers were Workday Inc. (WDAY) and Micron
Technology (MU), each up 2%.
On the downside, shares of Microsoft Corp. (MSFT) shed 0.2%.
Deutsche Bank downgraded the stock to hold from buy. Also in the
red were shares of Apple Inc.(AAPL), which were off a fraction.
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