By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks edged down
Wednesday, joining a broad market retreat as shares of Zillow Inc.
fell sharply on the online real-estate information site's
disappointing earnings report.
Zillow (ZILLOW.XX) shares slid 8% to close at $83.73 after the
company reported a loss and higher expenses.
Facebook (FB) recovered from a weak start which saw its stock
dipping below its initial public offering price. The social
network's stock eked out a fractional gain to close at $38.87.
The tech sector got a lift from shares of AOL Inc. (AOL), which
gained 1.4% to close at $36.69 on better-than-expected earnings.
The Internet company also announced that it has agreed to buy
Adap.tv Inc., a digital-video advertising company, for $405
million.
Shares of Finisar Corp. (FNSR) soared 15.4% to close at $22.08
after the telecommunications-equipment company preannounced
better-than-expected results.
Finisar's report also gave shares of networking companies as
lift as it pointed to improved spending in the telecommunications
sector.
Juniper Networks (JNPR)saw its stock edge higher by a fraction
to close at $22, while JDSU (JDSUD) gained 3% to close at
$14.73.
However, after posting gains early in the session, Cisco Systems
(CSCO) edged down a fraction to close at $26.12.
Meanwhile, Microsoft Corp .(MSFT) shares gained 1.5% to close at
$32.06.
On the IPO front, shares of YuMe Inc. (YUME) traded flat to
close at its IPO price of $9.
The Nasdaq Composite Index (RIXF) shed 12 points, or 0.3%, to
close at 3,654. The chip sector also weighed on the group as the
Philadelphia Semiconductor Index (SOX) gave up 1%.
Shares of Advanced Micro Devices (AMD) were down nearly 1% to
close at $3.69, while Intel Corp (INTC) gave up a fraction to close
at $22.70.
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