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TECH STOCKS: Dell Lifts Tech Stocks, Leads S&P 500

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Shares of Dell Inc and Zynga Inc posted gains Wednesday morning, giving the tech sector a lift after a wobbly start. Dell (DELL) rose more than 4% in early trades a day after the computer maker announced its first dividend plan and kicked off its analyst day. The company on Wednesday also announced that it aims to cut $2 billion in costs by the end of its fiscal year 2015, by reducing expenses in such areas as supply chain and services delivery. Dell's stock was one of the top two performers on the S&P 500 (SPX) which was down a fraction. Late Tuesday, the company announced that it will dividends of 32 cents a share per year for a 2.7% yield. Mizuho Securities analyst Abhey Lamba said the plan "will put Dell in the upper end of technology companies, we believe the company needs to convince investors of its ability to grow earnings on a consistent basis." Shares of Zynga (ZNGA) (ZILLOW.XX) also jumped 4% a day after the social gaming's stock took a hit from a Cowen & Company note warning of waning user interest in the company's games on Facebook (FB) . Three brokers put out notes with more upbeat views of Zynga's growth prospects. "We expect continued growth in monetization with a strengthening payment platform and with newer games in niche categories that could monetize better than mass-market games," Lazard Capital analyst Atul Bagga wrote. Facebook Inc's shares also bucked the downward trend, gaining about 0.5%. After a weak start, the Nasdaq Composite Index (RIXF) rose 6 points, or 0.2%, to 2,849. The benchmark had earlier joined the broader market in reacting to data showing a decline in U.S. retail sales and lingering worries about the European financial crisis. The Dow Jones Industrial Average (DJI) was up 9 points. However, shares of Hewlett-Packard (HPQ) and Cisco Systems (CSCO) were in the red. H-P was down 1.2%, while Cisco slipped 0.5%, becoming two of the worst performers on the Dow Jones Industrial Average. Shares of Yahoo Inc (YHOO) were down nearly 1%. The Internet giant unveiled an agreement with CNBC LLC to share business news content.

Stock News for Cisco Systems (CSCO)
DateTimeHeadline
04/15/201415:45:12TECH STOCKS: Twitter Rallies 8% As Nasdaq Reclaims 4,000
04/15/201411:33:26TECH STOCKS: Nasdaq Back Below 4000; Apple, Google Fall
04/11/201419:36:07Riding the Tech Roller Coaster
04/11/201411:36:49TECH STOCKS: Yahoo, Twitter Weigh On Techs; Zynga Rises
04/11/201408:19:49Canada Government Disables More Online Services On Heartbleed...
04/10/201416:54:21TECH STOCKS: Facebook, Google, Apple Fall As Techs Dive
04/04/201416:35:41TECH STOCKS: Facebook, Microsoft Lead Tech Sector Retreat
04/04/201412:54:39TECH STOCKS: Microsoft, Cisco Lead Tech Sector Retreat
04/02/201417:28:58TECH STOCKS: Cisco Still Hurting In Emerging Markets
04/02/201413:02:24EU to Vote on Web Traffic Regulation
03/28/201412:57:32TECH STOCKS: BlackBerry Rises, Then Slips On Results
03/27/201409:44:41U.S. Hot Stocks: Hot Stocks to Watch
03/27/201407:08:49Spherix Sues Cisco Over Alleged Patent Infringements
03/22/201417:47:45Magazine Reports NSA Spied on Top China Officials and Huawei...
03/20/201416:38:10TECH STOCKS: 3-D Printing Stocks Down As H-P Eyes Market
03/18/201411:12:38TECH STOCKS: H-P Seen Gaining As IBM Exits Key Market
03/13/201419:38:14Cisco Probes Bribery-Related Allegations -- Update
03/13/201418:30:06Cisco Probing Bribery-Related Allegations
03/12/201414:56:25TECH STOCKS: Tech Stocks Overcome Early Losses
03/02/201406:18:18MARKET SNAPSHOT: Jobs, Winter Weather To Test Record Stock Levels

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