By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks eked out modest
gains Thursday, aided by rising Ciena Corp shares, even as Apple
Inc. and Oracle Corp. tumbled..
Apple (AAPL) shed 1.5% to close at $438.46, while Oracle Corp.
(ORCL) gave up 2.3% to close at $33.35. Shares of VeriFone Systems
(PAY) also tumbled 21% to close at $17.37 a day after the
electronic payments company reported disappointing results and
outlook.
The losses were offset by gains in shares of Ciena, which jumped
after the networking-gear company reported strong revenue and an
upbeat forecast.
Ciena (CIEND) was up 17.4%, closing at $19.15. The company's
report also lifted the stock of another networking equipment
company, JDSU (JDSUD) , which saw its shares gain 8.3% to close at
$14.22.
The Nasdaq Composite Index (RIXF) was up 23 points, or 0.7%, to
close at 3,424. The Morgan Stanley High Tech 35 Index (MSH) was up
a fraction, while the Philadelphia Semiconductor Index (SOX) was
down 0.1%.
Meanwhile, shares of LightinTheBox (LITB) soared 22% to close at
$11.61 as the Chinese e-commerce company had its public trading
debut on the New York Stock Exchange. The company priced its
initial public offering at $9.50, within its stated range of $8.50
to $10.50.
Also in the red were shares of Intel Corp. (INTC) , Groupon Inc.
(GRPN) and Zynga Inc.(ZNGA)
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