By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks appeared to shake off
their early losses as trading progressed Tuesday, with the sector
finally charting broad gains after falling for several days.
Among leading tech stocks, Internet radio leader Pandora Media
Inc. (P) rose 4.5%, and Yahoo Inc. (YHOO) was up by almost 4% and
Google Inc. (GOOGL), Netflix Inc. (NFLX) and eBay Inc. (EBAY) each
rose more than 3%.
The Nasdaq Composite Index (RIXF) came back from a round of
losses to rise 24 points to 4,119. The tech-heavy market gauge is
trying to find some stability after losing almost 5% over the prior
three trading sessions.
The tech sector generally mirrored the movement of the broader
market, which also fluctuated earlier. Adding to investors'
concerns was a new report from the International Monetary Fund,
which said economic shockwaves in emerging markets could end up
negatively impacting several Western economies.
Among other tech stocks, Amazon.com Inc. (AMZN) rose 2.7% to
$326.86 after the company cited new market data that said its Prime
Instant Video service usage tripled from a year ago, and that it
surpassed both Hulu and Apple Inc. (AAPL) in streaming video
use.
Yelp Inc. (YELP) shares rose 3% to $68.06 after SunTrust
Robinson Humphrey analyst Robert Peck raised his rating on the
online consumer review and information company to buy from neutral,
saying in a research note that Yelp's stock price valuation is more
supportive following a 33% decline in the past month.
More tech news from MarketWatch:
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