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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
07/01/201509:00:00Wind River Earns Top Workplace Distinction
07/01/201508:21:03Should Intel Corporation Investors Worry About Weak Earnings...
07/01/201508:00:02Why Microsoft Corporation Isn't Buying Advanced Micro Devices...
06/30/201516:04:32Statement of Changes in Beneficial Ownership (4)
06/30/201514:00:02Some Troubling News for Intel Corporation’s Mobile Efforts
06/30/201508:30:00Security Research Alliance for the Digital World
06/30/201508:00:033 Upcoming Catalysts for Intel Corporation Stock in 2015
06/29/201518:00:02Intel Corporation Is Doing Something Smart with Its Upcoming...
06/29/201511:14:23There's Something Very Strange About Intel Corporation's Broxton
06/29/201507:00:00Multiple Foundries in Asia Select Jordan Valley's JVX7300HR X-ray...
06/24/201517:02:45Annual Report of Employee Stock Plans (11-k)
06/24/201511:00:00Honeywell and Intel Security Team to Secure Critical Infrastructure...
06/23/201513:00:03Intel Corporation’s New Internet of Things Chip Looks Like a...
06/23/201513:00:00Power Hot Summer Activities with Cool Intel® Technology
06/23/201510:44:44Intel Corporation Details 14-Nanometer System-on-Chip Process...
06/22/201513:34:591 Huge Innovation Intel Corp. Could Bring to Future Xeon Server...
06/22/201513:00:06How Can TSMC Overcome a Smartphone Slowdown?
06/20/201515:40:02Intel Corporation Reportedly Launching Skylake in Early August
06/19/201512:10:25Intel Corporation Just Dove Further Into the Wearables Market
06/17/201512:45:03What Happens to Old Intel Corporation Manufacturing Technologies?

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