By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks started the week with
broad losses Monday. Microsoft Corp. was among the decliners after
the company said it would acquire the maker of the popular
"Minecraft" game franchise for $2.5 billion.
Microsoft (MSFT) shares slipped by 45 cents to close at $46.24
after it confirmed reports that it will acquire Stockholm-based
Mojand, the developer of "Minecraft." Mojang will become part of
Microsoft Studios, which also includes the developers of such
popular game titles as "Halo" and "Forza." Microsoft is expected to
use Minecraft's popularity to increase demand for its mobile
devices.
Security software company Symantec Corp. (SYMC) gave up 1.4% to
close at $24.19 a share. RBC Capital Markets cut its rating on
Symantec to sector perform from outperform Monday.
Other notable declines came from LinkedIn Corp.(LNKD), which
fell 7.6% to close at $207.71; Seagate Technology (STX), which shed
3.6% to end the day at $58.84 a share, and Netflix Inc. (NFLX),
down by 4% to close at $457.75a share. On Monday, Netflix launched
its online video-streaming service in France.
Apple Inc. (AAPL) slipped into the red, giving up 3 cents a
share to close at $101.63. On Friday, Apple said it had received a
record number of pre-orders for its new iPhone 6 and iPhone 6 Plus
smartphones.
The Nasdaq Composite Index (RIXF) fell almost 49 points, or 1%,
to close at 4,518 and the Philadelphia Semiconductor Index (SOX)
gave up 1.2%
(Read more about the day's market activity in Market Snapshot
http://www.marketwatch.com/story/us-stocks-futures-nudge-lower-as-investors-wait-for-fed-2014-09-15.).
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