By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology trading was mixed
Wednesday as the federal government shutdown entered its second day
and the sector recovered from a weak start, aided by gains in
social media and chip stocks.
The Nasdaq Composite Index (RIXF) shed 0.1% to close at 3,815,
while the Philadelphia Semiconductor Index (SOX) was off a
fraction.
BlackBerry(RIMM) bounced back from early losses, rising a
fraction to $7.96 a share. The company had disclosed that it
expects even bigger restructuring charges and disclosed more
serious challenges.
But the stock later reversed course after The Wall Street
Journal reported, citing unnamed sources, that Cerberus Capital was
interested in making a bid for the company. BlackBerry had
announced a $4.7 billion deal with Fairfax Financial Holdings to go
private.
Also on the upside, Apple Inc.(AAPL), LinkedIn Corp. (LNKD) and
Google Inc. (GOOG) were each up a fraction.
Micron Technology (MU) also saw its stock edge higher by 0.3% to
$17.66. A Sterne Agee report on Tuesday pointed to signs of strong
demand for mobile DRAM processors, playing down worries of a
slowdown.
Shares of Autodesk Inc. (ADSK) also rallied 5.1% to $42.55 after
the design-software company announced Wednesday that it was
acquiring Graitec's Advance Steel and Advance Concrete product
lines.
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