By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks delivered a mostly
upbeat trading performance Tuesday, as the sector prepared for an
onslaught of earnings reports.
Intel (INTC) , which kicked off the tech results, saw shares
rise more than 2% to close at $32.14. Shortly after the market
closed, Intel reported third-quarter earnings of 66 cents a share
on $14.55 billion in revenue, beating FactSet analysts estimates
for earnings by a penny.
Netflix Inc. (NFLX), which reports its third-quarter results
after Wednesday's market close, rose 2.4% to close at $449.12.
Other gains came from Pandora Media Inc. (P), Oracle Corp.
(ORCL), Amazon.com Inc. (AMZN) and online travel agency Orbitz
Worldwide Inc. (OWW), which rose 2.4% to close at $7.60 a share
after having its rating upgraded to outperform from market perform
by FBR Capital Markets analyst Jake Fuller.
Apple Inc. (AAPL) shed 1% to close at $98.75 in advance of a
company event Thursday that is expected to focus on the release of
new iPads
Alibaba Group (BABA) gave up 17 cents to close at $84.95 a
share. However, UBS analyst Erica Werkun initiated her coverage of
the Chinese Internet company with a buy rating and $100-a-share
price target.
The Nasdaq Composite Index (RIXF) rose 13 points to close at
4,227 and the Philadelphia Semiconductor Index (SOX) added almost
2%.
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