By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Shares of Twitter Inc. rallied
Thursday after Pacific Crest initiated coverage on the social
network with an outperform rating.
Twitter (TWTR) rose 3% to close at $33.89 as Pacific Crest
analyst Evan Wilson also set a price target of $45 and pointed to
"revenue catalysts kicking in."
The tech sector also got a lift from Microsoft (MSFT), which was
up 2.2% to close at $41.21, after FBR Capital upgraded the stock to
outperform.
FBR analyst Daniel Ives told clients in a note, "We have a high
degree of confidence in [Chief Executive] Satya Nadella's plan for
Microsoft's future, are optimistic about its strong cloud offerings
and believe Microsoft is taking necessary steps to ensure Windows
successfully makes the transition to mobile."
On the downside, shares of Zynga Inc. (ZNGA) tumbled 9.2% to
close at $2.97. Shares of Linkedin (LNKD) also fell nearly 1% to
close at $155.24.
The Nasdaq Composite Index (RIXF) rose 1% to close at 4,296. The
Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia
Semiconductor Index(SOX) were each up a fraction.
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