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TECH STOCKS: Apple, Chip Stocks Lead Techs Lower

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- Technology stocks slipped into the red Friday morning, as chip stocks and Apple Inc. shares retreated, offsetting gains in shares of Research In Motion Ltd. The Nasdaq Composite Index (RIXF) was down about 14 points at 3,081, while the Philadelphia Semiconductor Index (SOX) was behind about 0.4%. Shares of Apple (AAPL) were down nearly 2% at $599.32. On Thursday, the Fair Labor Association, in which Apple is a member, announced that the company's manufacturing partner Foxconn had agreed to make significant changes to the way they operate factories in China. Major semiconductor shares were in the red, including Intel Corp. (INTC) , Advanced Micro Devices Inc. (AMD), Nvidia Corp. (NVDA) and SanDisk Corp.(SNDK). The tech sector was also being weighed down by slumping software stocks, including Oracle Corp. (ORCL) , Adobe Systems Inc. (ADBE) , Salesforce.com (C) and Red Hat Inc. (RHT). Shares of Tibco Software Inc. (TIBX) were down more than 4% after the infrastructure software developer reported a jump in profit, but one that was not as impressive as in recent quarters. "The results were generally in line with expectations following several quarters of strong beats," BMO Capital analyst Karl Keirstead said in a note. "The total revenue growth guidance of 13% in fiscal second-quarter 2012 would be the first time in two years that growth would be below 20%; the 10% growth rate in the Americas was the lowest in over two years." On the upside, Research In Motion (RIMM) rose nearly 2% to $14 a day after the maker of the BlackBerry devices posted a loss and announced changes to its management team and board. However, some analysts saw the company still facing serious challenges, including stiffening competition from Apple. "We continue to be cautious on RIM as we believe the company's integrated strategy continues to greatly lag Apple's," Wedbush analyst Scott Sutherland said in a note. "While Apple is moving forward with iCloud and other connected devices, RIM continues to focus on its [operating system] and device upgrades in smartphones and tablets."

Stock News for Research in Motion Limited (RIMM)
DateTimeHeadline
01/31/201316:46:36TECH STOCKS: Facebook Slips Late; BlackBerry Weighs Techs
01/31/201316:18:53TECH STOCKS: Facebook Turns Up; BlackBerry Weighs Techs
01/31/201312:36:53TECH STOCKS: Facebook, BlackBerry Fall; Qualcomm Jumps
01/30/201317:09:33TECH STOCKS: Amazon Gains, RIM Losses Lead Tech Action
01/30/201316:45:28MARKET SNAPSHOT: U.S. Stocks Drop On Economic Worries
01/30/201315:48:48MARKET SNAPSHOT: U.S. Stocks Modestly Lower After Fed
01/30/201315:43:10TECH STOCKS: Amazon Rises, But RIM Turns Negative
01/30/201315:19:19MARKET SNAPSHOT: U.S. Stock Indexes Mildly Lower After Fed
01/30/201314:23:04MARKET SNAPSHOT: U.S. Stocks Hold January Gains Ahead Of Fed
01/30/201313:52:10MARKET SNAPSHOT: U.S. Stock Indexes Steady On Mixed Data
01/30/201312:22:48MARKET SNAPSHOT: U.S. Stock Indexes Steady As Data Mixed
01/30/201311:37:25MARKET SNAPSHOT: U.S. Stocks In Mild Retreat After GDP Data
01/30/201310:58:53MARKET SNAPSHOT: U.S. Stocks Drop After GDP Data
01/30/201310:39:48TECH STOCKS: Amazon, Research In Motion Lead Tech Rally
01/22/201318:18:16TECH STOCKS: RIM, Dell Lead Gains For Tech Stocks
01/22/201311:19:08TECH STOCKS: Google Leads Tech Stocks Down; RIM Jumps
01/22/201310:55:03TECH STOCKS: RIM, Apple Gain With Earnings Set To Roll In
01/22/201307:05:12MARKET SNAPSHOT: Stock Futures Mostly Off Amid Earnings, Data...
01/20/201322:10:07RIM Expects Blackberry 10 to Play Substantial Role
01/18/201315:43:46TECH STOCKS: Intel Keeps Tech Stocks Down; RIM Jumps

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