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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)
02/02/201617:11:59Statement of Changes in Beneficial Ownership (4)
02/02/201615:05:20Statement of Changes in Beneficial Ownership (4)
02/01/201616:43:00Citrix Appoints Kevin Parker as Chairman of the Board of Directors...
01/28/201609:48:00U.S. Hot Stocks: Hot Stocks to Watch
01/27/201617:47:00Citrix Profit Rises 38%; Guidance Raised, $400 Million Buyback...
01/27/201617:00:33Statement of Changes in Beneficial Ownership (4)
01/27/201616:54:51Initial Statement of Beneficial Ownership (3)
01/27/201616:05:00Citrix Reports Fourth Quarter and Fiscal Year Financial Results
01/20/201617:30:00Citrix Names Ex-Microsoft Executive as New CEO
01/20/201617:17:00Citrix Systems Names Former Microsoft Executive as Its New CEO
01/20/201616:15:37Current Report Filing (8-k)
01/20/201616:05:00Citrix Appoints Kirill Tatarinov as President and CEO
01/14/201616:05:00Citrix Systems to Announce Fourth Quarter 2015 Financial Results...
01/13/201616:25:00Kelway Uses Citrix Technology to Transform the Workplace for...
01/08/201612:15:57Initial Statement of Beneficial Ownership (3)
01/04/201618:19:33Statement of Changes in Beneficial Ownership (4)
01/04/201618:02:35Statement of Changes in Beneficial Ownership (4)
01/04/201617:47:27Statement of Changes in Beneficial Ownership (4)
01/04/201616:54:48Statement of Changes in Beneficial Ownership (4)
12/30/201515:45:30Initial Statement of Beneficial Ownership (3)

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