By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks put in a mixed
trading performance Thursday, with much of the sector advancing,
yet losses from the likes of bellwether Cisco Systems Inc., NetApp
Inc. and Angie's List Inc. have negatively affected the sector's
performance.
Cisco (CSCO) shares fell 4.6%, to $21.81 after the
networking-equipment leader reported fiscal second-quarter earnings
and sales late Wednesday that beat Wall Street analysts forecasts,
but also fell from a year ago. Cisco officials also said business
was being hampered by a slowing down of sales in emerging
markets.
Storage-technology company NetApp Inc. (NTAP) fell almost 6%, to
$40.15 a share. On Wednesday, NetApp reported third-quarter
earnings that beat expectations, but also gave a sales outlook that
feel short of analysts' estimates.
Angie's List (ANGI) tumbled by more than 17%, to fall to $14.18
a share on negative reaction to the online professional-services
and recommendation company's first-quarter outlook. Angie's List
expects its first-quarter sales to be between $71.5 million and
$72.5 million. Analysts surveyed by FactSet had forecast Angie's
List to post sales of $74.3 million for the quarter.
While those losses stood out, a slate of gainers also emerged as
trading progressed.
Apple Inc. (AAPL) was up by 1% at $541.80. A report from
Bloomberg said Apple is planning a new version of the Apple TV
set-top box, and is working with Time Warner Cable Inc. (TWC) to
provide content for the device.
Online travel site Orbitz Worldwide Inc. (OWW) surged more than
30%, to $9.05 a share, after the company reported upbeat quarterly
results that were aided by strong bookings of hotels and vacation
packages.
Advances also came from Netflix Inc. (NFLX), Facebook Inc. (FB),
Microsoft Corp. (MSFT) and Yahoo Inc. (YHOO).
The Nasdaq Composite Index (RIXF) rose by 19 points to 4,220 and
the Philadelphia Semiconductor Index (SOX) was up by almost 1%.
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