By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Shares of Amazon.com Inc. touched
a new high Friday as the company unveiled an expanded deal with NBC
Universal and as speculation about a new tablet continued.
But the technology sector took a hit from shares of Autodesk
Inc. (ADSK), which plunged, sustaining the worst drop within the
S&P 500 Index (SPX) after the design-software firm's
disappointing results left investors stunned.
Autodesk shares shed 15.6% to close at $30.13.
Late Thursday, Autodesk missed revenue forecasts for the second
quarter of fiscal 2013 and cut its outlook in what Jefferies &
Co. analyst Ross MacMillan called "a big step back."
"In a surprise to us, Autodesk missed Street revenues by 4%,
blaming execution and soft demand," MacMillan said.
On the other hand, shares of Amazon.com (AMZN) closed up 1.9%,
to $245.74, after the stock hit a record high of $246.87.
The online megaretailer said Friday that it has expanded a
partnership with NBC Universal, allowing Amazon to offer more video
content. The company also sent out media invitations Thursday for a
big event in Southern California in two weeks. Analysts suggest
that Amazon was rolling out a new version of the Kindle Fire
tablet.
Amazon stock have risen more than 40% this year.
The tech sector managed to bounce back from early losses. The
Nasdaq Composite Index (RIXF) rose 0.5% to close at 3,070, although
the benchmark ended the week down a fraction.
The S&P 500 (SPX) also gained a fraction but was off
slightly for the five-day period
Among the notable gainers were shares of Aruba Networks Inc.
(ARUN), which jumped 14.4% to close at $19.36 after the networking
company reported upbeat third-quarter results and issued a
better-than-expected forecast.
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