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TECH STOCKS: Tech Stocks Falter Ahead Of Cisco's Results

By Rex Crum SAN FRANCISCO (MarketWatch) -- Tech stocks were mostly in the red Wednesday, as the sector followed the broad market south and awaited the release of Cisco Systems Inc.'s quarterly results after the market close. Cisco (CSCO) gave up 27 cents a share to trade at $24.07 in advance of the company's fiscal first-quarter results. Analysts surveyed by FactSet Research estimate Cisco will earn 40 cents a share on $10.75 billion in sales, up from 36 cents a share on revenue of $9 billion in the year-ago period. With Cisco in the red, other tech stocks followed suit. Losses came from Apple Inc. (AAPL), Hewlett-Packard Co. (HPQ), Intel Corp. (INTC), Yahoo Inc. (YHOO) and Dell Inc. (DELL). The Nasdaq Composite Index (RIXF) fell 13 points to 2,550, while the Philadelphia Semiconductor Index (SOX) gave up more than 1%. Google Inc. (GOOG) shares fell $6.77 to $618.38. However, the Internet kingpin was getting more attention for a company plan to give 10% raises to every one of its 23,000 employees. Video-technology company Sonic Solutions Inc. (SNIC) fell by $1 a share, or more than 8%, to $11.10, after the company gave a weaker-than-expected revenue forecast for its fiscal third-quarter. Other losses came from Western Digital Corp. (WDC), down $1.16 a share, or 3.4%, at $33.39; Lam Research Corp. (LRCX), which fell $1.73 a share, or 3.7%, to $45.29, and Advanced Micro Devices Inc. (AMD), down 15 cents a share, or 2%, at $7.76.

Stock News for Lam Research (LRCX)
DateTimeHeadline
05/20/201512:15:10What Is the S&P 500 Index?
04/29/201515:04:51Statement of Changes in Beneficial Ownership (4)
04/21/201513:47:28Why Shares of Lam Research Corporation Took Off
04/21/201509:16:39Lam Research's Buy Rating Reiterated at Deutsche Bank (LRCX)
04/21/201506:15:56Lam Research Price Target Increased to $105.00 by Analysts at...
04/21/201504:46:42JPMorgan Chase & Co. Increases Lam Research Price Target to $95.00...
04/21/201504:10:53Lam Research Given New $95.00 Price Target at Needham & Company...
04/21/201503:21:59Lam Research Given New $76.00 Price Target at RBC Capital (LRCX)
04/21/201503:15:16Cowen and Company Raises Lam Research Price Target to $93.00...
04/20/201516:03:13Current Report Filing (8-k)
04/03/201518:36:02Statement of Changes in Beneficial Ownership (4)
03/25/201518:05:12Which Chip Equipment Stock Is Best For Your Dividend Growth Portfolio
03/13/201516:02:53Current Report Filing (8-k)
03/13/201505:16:10MasterCard Is At A Discount - Cramer's Lightning Round (3/12/15)
03/11/201517:22:11Current Report Filing (8-k)
03/06/201516:47:13Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
03/05/201508:21:48Prospectus Filed Pursuant to Rule 424(b)(3) (424b3)
02/23/201517:43:21Statement of Changes in Beneficial Ownership (4)
02/20/201517:11:03Statement of Changes in Beneficial Ownership (4)
02/20/201513:47:56Statement of Changes in Beneficial Ownership (4)

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