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TECH STOCKS: Akamai Falls, But Nasdaq Ekes Out Gain

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Shares of Akamai Technologies Inc. tumbled Thursday, after the company issued a muted forecast, but the tech sector rallied to push the Nasdaq Composite Index into positive territory. Akamai (AKAM) fell 14.7% to close at $34.94, the leading decliner on the S&P 500 Index. However, the S&P 500 (SPX) rose 0.4% to close at 1,360, , thanks to gains in shares of Citrix Systems Inc. (CTXS) which jumped 9.7% to close at $85.37 after the information-technology-services company reported upbeat results. Citrix was one of the S&P 500's top gainers. "Guidance appears conservative and we see upside to estimates in the second half of 2011," said Lazard Capital Markets analyst Joel Fishbein said in a note. "Customer activity and pipeline are at record levels, and Citrix continues to have good momentum on the back of strong execution." The Nasdaq Composite Index (RIXF) edged higher by 0.1% to close at 2,873. But the Morgan Stanley High Tech 35 Index (MSH) was down 0.4%, while the Philadelphia Semiconductor Index (SOX) slid 0.7%. The tech sector also took a hit from shares of Teradyne Inc. (TER), which were down 12.4% to close at $16.03 a day after the electronic production equipment maker reported a jump in quarterly profit, but issued a weaker-than-expected forecast.

Stock News for Citrix (CTXS)
DateTimeHeadline
05/21/201516:02:42Statement of Changes in Beneficial Ownership (4)
05/20/201517:57:00Citrix Executives to Present at Upcoming Investor Conference
05/20/201517:42:07Statement of Changes in Beneficial Ownership (4)
05/20/201512:15:10What Is the S&P 500 Index?
05/19/201508:00:00Citrix and Mirantis Team To Bring Products Powering Largest Cloud...
05/14/201510:14:00CORRECTING and REPLACING Aer Lingus Wins the 2015 Citrix Innovation...
05/13/201511:33:31Statement of Changes in Beneficial Ownership (4)
05/12/201512:00:00Aer Lingus Wins the 2015 Citrix Innovation Award
05/12/201509:32:00Citrix Unveils Citrix Workspace Cloud - the Future of On-Demand...
05/12/201509:30:00Citrix Leads Enterprise File Sharing with New Consumer-Style...
05/12/201509:30:00Citrix Unveils Networking Vision of the Workspace Delivery Controller
05/12/201509:30:00Citrix Empowers Businesses with New Enterprise Mobility Management...
05/12/201509:30:00Citrix Extends Lead in App Delivery and VDI with New Innovations...
05/12/201509:25:00Citrix Outlines Vision for IT Transformation
05/11/201511:54:56Additional Proxy Soliciting Materials (definitive) (defa14a)
05/08/201513:34:20Quarterly Report (10-q)
05/08/201511:38:28Statement of Changes in Beneficial Ownership (4)
05/05/201511:38:14Statement of Changes in Beneficial Ownership (4)
04/30/201517:40:28SunTrust Initiates Coverage on Citrix Systems (CTXS)
04/29/201516:06:50Statement of Changes in Beneficial Ownership (4)

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