By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks were mostly in
the green on Wednesday, even as shares of Salesforce.com and eBay
retreated.
Salesforce (CRM) shed 5% to close at $50.19 a day after the
cloud-based business software company reported a wider loss. The
San Francisco-based firm's results actually exceeded Wall Street
expectations, but Nomura analyst Rick Sherlund said the report
pointed to "slower organic growth."
"Management did not report any nine-figure, multiyear deals that
investors have been eager to hear more about, but we believe there
is the potential for better traction in these large deals as we go
through the year," Sherlund told clients in a note.
Shares of eBay (EBAY) fell 0.2% to close at $51.88 after the
e-commerce site warned users to change their passwords after a
cyberattack compromised the company's database.
But the tech sector managed to stay in positive territory, with
gains from Google Inc.(GOOGL), Netflix Inc. (NFLX) and Cisco
Inc.(CSCO)
Google was up 1.7% to close at $549.70, while Netflix gained 5%
to close at $390.60 and Cisco was ahead 1.5% to close at
$24.48.
The Nasdaq Composite Index (RIXF) rose nearly 1% to close at
4,132. The Morgan Stanley High Tech 35 Index (MSH) and the
Philadelphia Semiconductor Index (SOX) were each up a fraction.
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