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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)
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05/26/201609:49:02Statement of Changes in Beneficial Ownership (4)
05/25/201616:45:26Additional Proxy Soliciting Materials (definitive) (defa14a)
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05/24/201612:51:00Citrix and Microsoft Align to Help Businesses Embrace Digital...
05/24/201612:00:00Citrix Showcases Cloud-first Innovations to Enable Unified Workspace-as-a-Service...
05/23/201608:00:00Media Alert: Citrix Showcases Innovations to Accelerate Digital...
05/20/201616:44:00Citrix to Outline Business Strategy at Synergy 2016 Financial...
05/13/201615:08:31Statement of Changes in Beneficial Ownership (4)
05/09/201617:32:00Citrix Executive to Present at Upcoming Investor Conference
05/06/201610:41:24Quarterly Report (10-q)

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