By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks closed out July with
a mixed trading performance Wednesday, with Facebook Inc. among the
decliners as the social-networking leader's shares retreated after
earlier surpassing their IPO level of more than a year ago.
Facebook (FB) fell 2.2%, to close at $36.80 after rising to as
high as $38.31 and getting past the $38-a-share price it set when
the company went public in May 2012.
On Tuesday, Facebook said it is launching a new program to help
developers publish and promote mobile games over Facebook's
platform.
Dell Inc. (DELL) also stood out, as its shares fell 1.6% to
$12.66. A special committee of Dell's board of directors rejected a
proposal supported by Chief Executive Michael Dell that would
change the voting standard for Dell's effort to take the PC company
private.
Michael Dell was trying to change the standard so that non-votes
on the privatization would not be counted. The current standard
treats non-votes the same as votes against the deal.
Riverbed Technology Inc. (RVBD) was one of the tech sector's
biggest percentage decliners, falling almost 11% to $15.64. The
computer-networking equipment maker said late Tuesday that it swung
to a second-quarter loss and reported revenue of $250 million,
which fell below analysts' forecasts.
Declines also came from Apple Inc. (AAPL), Oracle Corp. (ORCL),
Yahoo Inc. (YHOO) and Netflix Inc. (NFLX).
Despite the broad losses, the tech-heavy Nasdaq Composite Index
(RIXF) rose almost 10 points to 3,626 and the Philadelphia
Semiconductor Index (SOX) also edged into positive territory. For
the month, the Nasdaq was up by 6.6%.
Yelp Inc. (YELP) closed with a gain of a penny a share at
$41.80. The online local-recommendation company reported a 69%
increase in its second-quarter sales after Wednesday's market
close.
Symantec Corp. (SYMC) rose 9.6% to close at $26.68 a share. Late
Tuesday, the security-software company's reported fiscal
first-quarter results that exceeded Wall Street analysts'
forecasts.
Videogame publisher Take-Two Interactive Software Inc. (TTWO)
ended the day with a gain of 3.3% at $17.56 a share. The company
reported upbeat quarterly results on Tuesday and set a Sept. 17
release date for its coming "Grand Theft Auto V" title.
Garmin Ltd. (GRMN) shares leapt 7.6%, to close at $40.08 after
the maker of personal-navigation devices reported
better-than-expected second-quarter results before the market
open.
Intersil Corp. (ISIL) climbed more than10% to close at $10.21
following the power-management technology company's late-Tuesday
quarterly results. Nedham & Co. raised its rating on Intersil
to buy from hold on Wednesday.
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