By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Facebook Inc. shares rose Friday,
getting a lift from a UBS upgrade, but the tech sector took a hit
from slumping shares of Oracle Corp.
Facebook (FB) was up 2%, a day after the social network rolled
out a video feature for its popular Instagram photo-sharing
service.
UBS analyst Eric Sheridan upgraded the stock to buy from
neutral, citing Facebook's "focused monetization efforts."
But shares of Oracle (ORCL) tumbled nearly 9%, a day after the
Redwood City, Calif.-based technology company reported revenue that
fell short of expectations.
Oracle was the top decliner on the S&P 500 (SPX) which was
up a fraction.
The Nasdaq Composite Index (RIXF) struggled to stay in positive
territory, and was last down 4 points, or 0.1%, at 3,360. The
benchmark was poised to end the week down about 2%.
The Morgan Stanley High Tech 35 Index (SPX) was also down a
fraction, while the Philadelphia Semiconductor Index (SOX) managed
to hang on to a fractional gain, as shares of Advanced Micro
Devices (AMD) and Intel Corp. (INTC) posted gains.
On the downside, shares of Hewlett-Packard (HPQ) were down 1%,
while Apple Inc. (AAPL) and IBM Corp (IBM) each shed a
fraction.
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