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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)
08/26/201519:04:28Statement of Changes in Beneficial Ownership (4)
08/26/201519:02:13Statement of Changes in Beneficial Ownership (4)
08/25/201516:50:00Citrix Executive to Present at Upcoming Investor Conference
08/20/201508:00:00Citrix Delivers Cloud Simplicity without Sacrificing IT Control
08/18/201517:27:20Statement of Changes in Beneficial Ownership (4)
08/18/201511:00:00John Holland Implements Citrix Solutions to Create a More Cost...
08/11/201508:00:00National Survey Finds Nearly 90% of People Use Work Devices without...
08/07/201518:54:45Initial Statement of Beneficial Ownership (3)
08/07/201518:53:51Initial Statement of Beneficial Ownership (3)
08/07/201518:51:34Initial Statement of Beneficial Ownership (3)
08/07/201515:54:05Quarterly Report (10-q)
08/06/201514:16:17Statement of Changes in Beneficial Ownership (4)
08/04/201514:44:55Statement of Changes in Beneficial Ownership (4)
08/04/201514:34:26Statement of Changes in Beneficial Ownership (4)
08/04/201514:23:30Statement of Changes in Beneficial Ownership (4)
08/04/201514:09:07Statement of Changes in Beneficial Ownership (4)
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

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