By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks added to their prior
day's losses Tuesday, with Salesforce.com Inc. and Groupon Inc.
among the decliners, and Microsoft Corp. also retreating following
its annual shareholders meeting.
Salesforce (CRM) fell by 5%, to close at $52.74 a share a day
after the cloud-based software company reported upbeat quarterly
results. However, analysts raised concerns about the quality of
Salesforce's report due to weak profit-margin growth and the chance
of slowing revenue gains in coming quarters.
Groupon Inc. (GRPN) also had a rough day, giving up 5.7% to fall
to $9.82 following Securities and Exchange Commission filings that
showed several company executives and insiders have recently sold
some of their holdings in the online daily deal and e-commerce
company.
Microsoft shares fell 18 cents to $36.74 after the software
giant held its last annual shareholders meeting with Chief
Executive Steve Ballmer, who is retiring from the company.
Losses also came from Hewlett-Packard Co. (HPQ), Netflix Inc.
(NFLX), Apple Inc. (AAPL) and Pandora Media Inc. (P).
The Nasdaq Composite Index (RIXF) fell more than 17 points to
close at 3,931 and the Philadelphia Semiconductor Index (SOX) ended
the day down by 1.3%.
Brocade Communications Systems Inc. (BRCD) was a rare noteworthy
gainer, as its shares rose more than 8% to $8.77 after the
networking technology company reported upbeat quarterly results
late Monday.
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