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TECH STOCKS: Tech Stocks Edge Higher; Micron Rises

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Technology stocks recovered from early losses to eke out modest gains Thursday, aided by a rally in shares of Micron Technology Inc. Micron (MU) added 4% after Sterne Agee raised its rating on the memory-chip maker's stock. "We are upgrading Micron to a buy, $12 price target, from neutral, as we think DRAM pricing will start to moderate and stabilize over the next couple of months," Sterne Agee analyst Vijay Rakesh said in a note. Micron also got an upgrade to outperform from neutral by Baird. The Nasdaq Composite Index (RIXF) inched up 0.1% to 2,740. The Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor Index (SOX) each rose fractionally. Meanwhile, shares of EMC Corp. (EMC) gained 2%. Lazard Capital boosted the stock's rating to buy from hold. Shares of some key players in the PC sector slipped after Gartner and IDC reported fourth-quarter PC data showing slower growth, partly due to stiffer competition from other devices, particularly Apple Inc.'s (AAPL) iPad. "The preliminary read confirms our fears of weak consumer demand and the early effects of the tablet invasion," J.P. Morgan analyst Mark Moskowitz said in a note. "In our view, these preliminary results, specifically indications of weaker-than-expected growth in Asia-Pacific, present modest downside risk to our PC market estimates." Intel Corp.'s (INTC) shares slipped about 0.2% ahead of the chip giant's fourth-quarter earnings report, due after the closing bell. Microsoft Corp. (MSFT) was down 1.2%, while Dell Inc. (DELL) declined 1.4%. Hewlett-Packard Co. (HPQ) and Apple Inc. were each up slightly. Shares of TTM Technologies (TTMI) advanced 14% after the printed circuit-board manufacturer raised its fourth-quarter forecast. Exfo Inc. (EXFO) shares jumped more than 20% after the Canadian telecommunications-testing-equipment maker posted better-than-expected financial results. But shares of Infosys Technologies (INFY) fell more than 5% after the Indian information-technology-services company reported weaker-than-expected results.

Stock News for Exfo (EXFO)
DateTimeHeadline
02/01/201609:00:00EXFO présente le premier appareil de test portatif G.fast au...
02/01/201609:00:00EXFO Introduces the World's First G.fast Handheld Test Set
02/01/201609:00:00EXFO Introduces the World's First G.fast Handheld Test Set
01/28/201610:56:00EXFO complète sa solution portative MaxTester avec un OTDR QUAD...
01/28/201610:53:00EXFO Brings a QUAD OTDR to Its MaxTester Handheld Solution for...
01/28/201610:53:00EXFO Brings a QUAD OTDR to Its MaxTester Handheld Solution for...
01/26/201611:03:00La gamme d'OTDR et iOLM d'EXFO fait peau neuve
01/26/201610:54:00EXFO Revamps Entire OTDR and iOLM Product Line
01/26/201610:54:00EXFO Revamps Entire OTDR and iOLM Product Line
01/22/201608:22:52Statement of Ownership (sc 13g)
01/13/201610:34:54Report of Foreign Issuer (6-k)
01/13/201610:00:00EXFO annonce l'élection des membres du conseil d'administration
01/13/201610:00:00EXFO Announces Election of Directors
01/13/201610:00:00EXFO Announces Election of Directors
01/08/201615:12:06Report of Foreign Issuer (6-k)
01/08/201611:52:00EXFO fera une présentation à la conférence Needham Growth
01/08/201611:50:00EXFO to Present at Needham Growth Conference
01/06/201616:10:00EXFO annonce ses résultats du premier trimestre de l'exercice...
01/06/201616:05:00EXFO Reports First-Quarter Results for Fiscal 2016
01/06/201616:05:00EXFO Reports First-Quarter Results for Fiscal 2016

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