By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks recorded gains
Tuesday as investors awaited the second-quarter quarterly results
from social-media company Twitter Inc., due after the close of
trading.
Twitter (TWTR) shares edged up by almost 1% to $38.27. Analysts
surveyed by FactSet have forecast Twitter to post a loss of a penny
a share on $283.4 million in revenue, compared with a loss of 12
cents a share on sales of $139.3 million in the year-ago period.
The company is under pressure due to concerns about slowing growth
of its user base, and its share price has fallen 40% this year.
With Twitter under the microscope, gains came from other
Internet stocks such as Priceline.com Inc. (PCLN), eBay Inc.
(EBAY), Yahoo Inc. (YHOO) and Netflix Inc. (NFLX)
(NFLX)Synchronoss Technologies Inc. (SNCR), which provides
software that activates and connects mobile devices with
communications networks, surged by more than 16% to $40.38. Before
the market opened Tuesday, Synchronoss reported
better-than-expected second-quarter results.
Online real-estate information company Zillow Inc. (ZILLOW.XX)
fell more than 3% to $154.41 one day after it said it would acquire
rival Trulia Inc. (TRLA) for $3.5 billion in stock.
Among tech bellwethers, gains came from Microsoft Corp. (MSFT),
Micron Technology Inc. (MU) and Hewlett-Packard Co. (HPQ).
The tech-heavy Nasdaq Composite Index (RIXF) rose 22 points to
4,467 and the Philadelphia Semiconductor Index (SOX) edged into
positive territory.
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