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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
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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