By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- The tech sector tried to start
the week off with gains on Monday, but was also dealing with
declines from several Internet leaders, including Yahoo Inc.
Yahoo (YHOO) shares fell 5%, to $35.11, after Chinese Internet
giant Alibaba reported a slowdown in revenue for the year. Alibaba
is preparing to go public this year, and Yahoo owns a 24% share of
the company.
Among other tech stocks in the red, declines came from Yelp Inc.
(YELP), Facebook Inc. (FB), Google Inc. (GOOGL) and Hewlett-Packard
Co. (HPQ).
Fusion-io Inc. (FIO) shares climbed 23% to $11.42 after SanDisk
Corp. (SNDK) said it would acquire the flash-storage memory company
for $1.2 billion. SanDisk shares rose 2.4% to $100.82.
Apple Inc. (AAPL) rose 1.3% to $92.51 a share. A profile of
Apple Chief Executive Tim Cook in the New York Times suggested that
Apple may be on track to release the so-called iWatch during its
fiscal fourth quarter.
Gains also came from Twitter Inc. (TWTR), Microsoft Corp.
(MSFT), Netflix Inc. (NFLX) and Micron Technology Inc. (MU).
The Nasdaq Composite Index (RIXF), which includes many leading
tech stocks, rose 6 points to 4,316. The Philadelphia Semiconductor
Index (SOX) was up by 0.5%.
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