By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks edged upward
Thursday, with Nvidia Corp. shares surging after the announcement
of a new partnership between the graphics chip maker and ARM
Holdings PLC.
Nvidia (NVDA) shares rallied $2.35, or almost 14%, to close at
$19.33 after the company said late Wednesday it will begin
developing central processors for PCs based on a design from ARM
Holdings PLC (ARMHY). ARM's shares shed 10 cents to close at
$21.78.
The move is seen as a challenge to Intel Corp. (INTC), which has
been making inroads into Nvidia's graphics-chip business.
Gains also came from Marvell Technology Group Ltd. (MRVL), which
rose $1 a share, or more than 5%, to close at $19.56; JDS Uniphase
Inc. (JDSUD), up $1.01, or 6.7%, to end the day at $16.04, Dell
Inc. (DELL) , which rose 39 cents a share, or almost 3%, to close
at $14.26 and Ciena Corp. (CIEND) , up $1.06, or 4.6%, to finish
the day at $23.99.
Microsoft Corp. (MSFT) rose 82 cents a share, or almost 3%, to
close at $28.82. Chief Executive Steve Ballmer said in a keynote
speech at the Consumer Electronics Show that Microsoft has sold 8
million of its Xbox Kinect videogame units since November, and he
laid out plans to expand the reach of the Windows operating system
platform.
The Nasdaq Composite Index (RIXF) rose 7.7 points to close at
2,709, while the Philadelphia Semiconductor Index (SOX) advanced
almost 2%.
Declines came from MetroPCS Communications Inc. (PCS), which
tumbled 96 cents a share, or 6.7%, to close at $13.30. The discount
wireless-service carrier said its net-subscriber additions fell 6%
in the fourth quarter.
Sourcefire Inc. (FIRE) slid $2.14 a share, or 8%, to close at $24.68 after the network-security-technology company said it would acquire Immunet for $21 million.