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TECH STOCKS: Nasdaq Back Under 3,000, LinkedIn Leaps

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Technology stocks were in broad retreat Friday as the Nasdaq Composite Index slipped back under 3,000 after U.S. stocks fell on weaker-than-expected job growth in April. The Nasdaq (RIXF) shed more than 2% to 2,959, as shares of major tech companies slid into the red. The last time the benchmark was below the 3,000 mark was April 24. Cisco Systems (CSCO) was down 3.5%, while Intel Corp. (INTC) shed 2%, as the two stocks became two of the worst performers on the Dow Jones Industrial Average. The Dow (DJI) was down 183 points. On the upside, shares of Micron (MU) also were up by 2.3% on media reports that the semiconductor company has apparently won the bidding for the failed Japanese memory chip maker Elpida. Shares of LinkedIn (LNKD) jumped 6% a day after the professional social networking reported a surge in earnings. "We are positive on LinkedIn's business and believe it will be difficult for competitors to challenge its leadership position," Needham analyst Kerry Rice said in a note. "The company's large addressable market is underpenetrated, in our view, and an improving economy should benefit LinkedIn's growth" But there were questions on how much the economy has improved after April's employment numbers came in below forecasts. Also in negative territory were shares of Apple Inc.(AAPL), which shed 2%, Oracle Corp.(ORCL), down 3% and Microsoft Corp.(MSFT), which traded down 2.6%. Shares of Dolby Laboratories (DLB) were up more than 17% after the company reported better-than-expected results for its second fiscal quarter.

Stock News for Intel (INTC)
DateTimeHeadline
05/25/201616:05:51Statement of Changes in Beneficial Ownership (4)
05/25/201616:04:08Statement of Changes in Beneficial Ownership (4)
05/25/201601:00:00Mark Burnett, TBS and Intel Award $1 Million Grand Prize to America’s G...
05/24/201617:10:07Current Report Filing (8-k)
05/19/201610:39:37Current Report Filing (8-k)
05/19/201606:35:15Specialized Disclosure Report (sd)
05/18/201616:32:58Statement of Changes in Beneficial Ownership (4)
05/18/201615:26:00Google Isn't Playing Games With New Chip
05/18/201611:10:00ARM's $350 Million Deal Builds Future Beyond Smartphones
05/17/201608:00:00Intel Security Reveals Security Risks Associated with Unsafe...
05/16/201608:45:00Company Lands Protection Contract for $900M Major Brand as Vulnerabilities...
05/13/201615:23:00ADDING MULTIMEDIA 18-Year-Old Microbiologist Develops Fuel Cells...
05/13/201614:53:00Vancouver High School Student Wins Top Prize at Intel International...
05/13/201614:30:0018-Year-Old Microbiologist Develops Fuel Cells that Convert Organic...
05/13/201606:13:14Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
05/13/201606:04:06Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
05/12/201618:10:00AMD Names John Caldwell Chairman
05/12/201617:56:00AMD Names John Caldwell Chairman
05/12/201609:11:37Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
05/10/201609:50:00HP Launches Group to Invest in Startups

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