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TECH STOCKS: Oracle's ATG Acquisition Leads Tech Action

By Rex Crum SAN FRANCISCO (MarketWatch) -- Tech stocks climbed along with the broader market Tuesday, with Oracle Corp. in the spotlight as the software giant made another acquisition and headed to the courthouse to determine damages it is seeking in a case with SAP AG. Shares of Oracle (ORCL) rose about 1% after the company said it would acquire Art Technology Group Inc. (ARTG) for $1 billion, or $6 a share, valuing ATG at a 46% premium to its Monday closing price. Shares of ATG, which develops on-demand and e-commerce software applications, rallied about 45% at last check. Also, Oracle was set to go to federal court in Oakland, Calif., to begin the process of determining damages it is seeking from SAP (SAP) in a case of intellectual-property theft committed by a former SAP subsidiary. Video-game publisher Electronic Arts Inc. (ERTS) shares rose about 1% before the release of the company's fiscal second-quarter results, due after the market close. Rackspace Hosting Inc. (RAX) shares climbed 7.5% as speculation mounted that the cloud-and-managed-hosting technology company could be acquired by Dell Inc. (DELL). Speaking at a conference in Hong Kong, Dell Chief Executive Michael Dell said his company would make an announcement about a cloud-computing acquisition, but gave no further details on Dell's plans. Gains also came from Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp. (MSFT). The Nasdaq Composite Index (RIXF) rose 14 points to 2,519. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) also edged upward. Decliners included Hutchinson Technology Inc. (HTCH). The maker of suspension assemblies for hard-disk drives fell almost 7% to $3.19 following a disappointing quarterly earnings report and forecast. Analyst Mark Miller of Noble Financial Group cut his rating on Hutchinson's stock to sell from hold.

Stock News for Rackspace Hosting (RAX)
DateTimeHeadline
08/19/201416:55:52TECH STOCKS: Google, Apple Gain Ground As Tech Stocks Rise
08/12/201416:47:33TECH STOCKS: Twitter Among Few Gainers In Weak Tech Session
08/12/201409:41:52U.S. Hot Stocks: Hot Stocks to Watch
07/02/201416:31:28MARKET SNAPSHOT: U.S. Stocks Edge Up To Records Again, But No...
07/02/201413:07:16MARKET SNAPSHOT: U.S. Stocks Edge Up After ADP As Dow Eyes 17,000
07/02/201408:50:41MARKET SNAPSHOT: U.S. Stocks: Futures Edge Up After ADP As Dow...
05/16/201416:34:16TECH STOCKS: Applied Materials, Rackspace Lead Tech Gains
05/16/201411:39:46TECH STOCKS: Applied Materials, Rackspace Are Notable Tech Gainers
05/13/201416:40:28MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500, Dow At Record
05/13/201416:34:32TECH STOCKS: Rackspace Gains Stand Out In Mixed Tech Session
05/13/201410:50:53TECH STOCKS: Rackspace, Apple Gain As Tech Stocks Rise
05/13/201410:42:12MARKET SNAPSHOT: U.S. Stocks Edge Higher; S&P 500, Dow At Record
03/25/201416:38:44TECH STOCKS: Rackspace, Zynga Rise Amid Mild Tech Gains
03/25/201414:43:35TECH STOCKS: Rackspace, Zynga Get Noticed Among Tech Gainers
03/25/201411:15:05TECH STOCKS: Rackspace, EBay Get Noticed In Broad Tech Gains
02/11/201417:19:25MARKET SNAPSHOT: U.S. Stocks Extend 4-day Winning Streak
02/11/201416:46:07TECH STOCKS: Tech Stocks Join Rally Fueled By Yellen's Comments
02/11/201413:45:13MARKET SNAPSHOT: U.S. Stocks Rally On Yellen Testimony
02/11/201411:22:24TECH STOCKS: Infoblox, Rackspace See Big Losses On Poor Outlook
02/11/201411:11:35MARKET SNAPSHOT: U.S. Stocks Rise; Yellen Keeps Fed Policy Intact

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