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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
07/31/201516:31:04Current Report Filing (8-k)
07/31/201509:45:00Business Software and Services Stocks Technical Coverage -- CyberArk...
07/30/201508:00:00Citrix Named a Leader in the Magic Quadrant for Enterprise File...
07/28/201520:57:45Citrix Systems CEO Mark Templeton to Retire -- 2nd Update
07/28/201519:10:37Citrix Systems CEO to Retire
07/28/201518:11:22Citrix Systems CEO Mark Templeton to Retire -- Update
07/28/201517:30:07Amended Statement of Beneficial Ownership (sc 13d/a)
07/28/201516:44:47Citrix Systems CEO Mark Templeton to Retire
07/28/201516:25:36Current Report Filing (8-k)
07/28/201516:05:00Citrix Reports Second Quarter Financial Results
07/28/201516:03:00Citrix Announces CEO Succession Plan
07/28/201516:02:00Citrix Announces Cooperation Agreement With Elliott Management
07/14/201508:00:00Citrix Accelerates Windows 10 Adoption and Simplifies Migrations...
07/09/201516:05:00Citrix Systems to Announce Second Quarter 2015 Financial Results...
07/06/201515:16:38Statement of Changes in Beneficial Ownership (4)
07/01/201513:57:40Statement of Changes in Beneficial Ownership (4)
06/17/201519:49:28Why An Exit Plan Is Just The Beginning
06/15/201516:46:38Statement of Changes in Beneficial Ownership (4)
06/11/201516:54:08Elliott Management Pushes for Change at Citrix -- 2nd Update
06/11/201515:55:00Citrix Comments on Letter from Elliott Management

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