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TECH STOCKS: Unemployment Rate Dampens Tech Action

By Rex Crum, MarketWatch SAN FRANCISCO (MarketWatch) -- Tech stocks found the going a bit rough Friday, as the sector's efforts to advance were held in check by investors' reaction to the rise in the U.S. unemployment rate, which dampened enthusiasm across the market. Among leading tech stocks, gains came from Oracle Corp. (ORCL), Research In Motion Ltd. (RIMM), Nvidia Corp. (NVDA) and IBM Corp. (IBM). VeriFone Holdings Inc. (PAY) shares rose almost 7% after the electronic-payment processor reported stronger-than-expected earnings for its fiscal fourth quarter Wednesday. National Semiconductor Corp. (NSM) gained 3.5% after FBR Capital Markets raised its rating on the chip maker to outperform from market perform. However, the sector muddled its way through the day's action after a disappointing payrolls report and an increase in the nation's unemployment rate, which rose to 9.8% in November. The Nasdaq Composite Index (RIXF), which lists many big-name tech stocks and started December with two straight days of gains, was lately down 3 points to 2,576. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) were at their breakeven points. Apple Inc. (AAPL) gave up 31 cents a share to trade at $317.90 after Caris & Co. analyst Robert Cihra raised his price target on the stock to $400 from $375. Declines also came from Google Inc. (GOOG), Dell Inc. (DELL) and Cisco Systems Inc. (CSCO).

Stock News for Verifone (PAY)
DateTimeHeadline
06/06/201409:47:52U.S. Hot Stocks: Hot Stocks to Watch
06/05/201417:07:47VeriFone Results Top Its Forecast; Company to Cut 500 Jobs
06/02/201409:12:07MARKET SNAPSHOT: Volume, VIX And Yields Are Stock Market's Bogeymen
03/12/201417:01:14MARKET SNAPSHOT: Stocks End Little Changed, Erasing Early Losses
03/12/201414:53:09MARKET SNAPSHOT: Stocks Fall On China, Ukraine Fears, But Off...
03/12/201414:48:11MARKET SNAPSHOT: U.S. Stocks Fall As China, Ukraine Worries Weigh
12/18/201309:41:50U.S. Hot Stocks Futures: Hot Stocks to Watch
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of -2-
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of Sep 30
09/23/201317:22:26VeriFone Systems Names Citigroup Executive to CEO Post
06/06/201316:33:40TECH STOCKS: Apple, Oracle Shares Slide; Ciena Jumps
06/06/201309:03:37U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
05/31/201316:30:16WEEK AHEAD: More Retailers to Report; Jobs Report on Friday
03/12/201317:42:36Next VeriFone CEO Faces Hurdles, But Will Get a Clean Slate
03/12/201316:55:16TECH STOCKS: Apple, Red Hat, VeriFone Highlight Tech Trading
03/11/201317:20:12VeriFone CEO Bergeron to Step Down; Shares Jump
03/11/201317:06:24VeriFone CEO Douglas Bergeron to Step Down; Shares Jump
03/06/201316:53:35MARKET SNAPSHOT: Stocks Gain As Dow Extends Record Rise
03/06/201314:51:46MARKET SNAPSHOT: Stocks Pause But Dow Extends Record Rise
02/21/201317:16:41TECH STOCKS: Apple, Facebook Weigh On Techs; Google Up

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