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TECH STOCKS: Tech Stocks End Day With Broad Gains

By Rex Crum SAN FRANCISCO (MarketWatch) -- Tech stocks put in a broadly upbeat performance Tuesday, with Oracle Corp. in the spotlight as the software giant made another acquisition and headed to court to determine damages it's seeking in a trade-secrets case from SAP AG. Oracle (ORCL) shares rose 40 cents to close at $29.53 after the company said it would acquire Art Technology Group Inc. (ARTG) for $1 billion. The $6-a-share buyout price values Art Technology at a 46% premium to its Monday closing price. Shares of Art Technology, which develops on-demand and e-commerce software applications, rallied about 45% as the deal was announced before the bell. Also, Oracle was set to go to federal court in Oakland, Calif., to begin the process of determining damages sought from SAP (SAP) in a case of intellectual-property theft committed by a former SAP subsidiary. Meanwhile, video-game publisher Electronic Arts Inc. (ERTS) shares rose 40 cents to $16.20 before the release of the company's second-quarter results, due out after the close of regular U.S. trading. Ahead of the results, Electronic Arts announced a five-year deal with Facebook. Rackspace Hosting Inc. (RAX) shares ended the day with a gain of 59 cents at $25.95. Rackspace's shares had climbed as much as 7.5% on speculation that Dell Inc. (DELL) was considering an acquisition of the cloud-and-managed-hosting technology company. Instead, Dell said it would acquire privately held software developer Boomi for an undisclosed amount. Dell's shares ended the day down 4 cents at $14.37. Gains also came from Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp. (MSFT). The Nasdaq Composite Index (RIXF) rose almost 29 points to 2,533, while both the Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) added nearly 1%. Tuesday's decliners included Hutchinson Technology Inc. (HTCH), which makes suspension assemblies for hard-disk drives. Hutchinson's shares fell 28 cents, or more than 8%, to close at $3.14 after the company delivered a disappointing fiscal fourth-quarter earnings report and forecast. Analyst Mark Miller of Noble Financial Group cut his rating on Hutchinson to sell from hold.

Stock News for Rackspace Hosting (RAX)
DateTimeHeadline
11/10/201412:37:14MARKET SNAPSHOT: S&P 500, Dow Hit Intraday Record Highs
11/10/201410:17:57MARKET SNAPSHOT: U.S. Stocks: S&P 500's Record Highs May Be Put...
11/10/201407:15:10MARKET SNAPSHOT: U.S. Stocks: S&P 500 Record Highs May Be Put...
11/09/201406:17:27MARKET SNAPSHOT: Retail Earnings To Test Those Consumer Sentiment...
09/17/201419:59:19TECH STOCKS: Adobe, Rackspace Losses Take Tech Spotlight
09/17/201419:58:21MARKET SNAPSHOT: U.S. Stocks Gain; Dow Closes At Record High
09/17/201419:52:40MARKET SNAPSHOT: U.S. Stocks Extend Gains On Fed Decision
09/17/201419:38:51MARKET SNAPSHOT: U.S. Stocks Rise Ahead Of Fed Statement
09/17/201419:33:21MARKET SNAPSHOT: U.S. Stocks: Futures Swing Higher After CPI
09/17/201418:21:30MARKET SNAPSHOT: U.S. Stocks: Futures Flat As Fed Day Arrives
09/17/201411:57:18MARKET SNAPSHOT: U.S. Stocks: Futures Flatten As Fed Day Arrives
09/16/201400:39:20TECH STOCKS: Tech Stocks Fall; Microsoft Among Decliners
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

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