By Rex Crum, MarketWatch Networking-equipment leader's results
to gauge corporate tech spending
SAN FRANCISCO (MarketWatch) -- Tech stocks were mixed in early
trading Wednesday, with Cisco Systems Inc. among the decliners
ahead of the networking-equipment leader's quarterly earnings
results.
Cisco (CSCO) shed 6 cents a share to slip to $25.10 ahead of its
fiscal first-quarter results, due after the close of trading.
Analysts surveyed by FactSet estimate Cisco will earn 53 cents a
share on $12.17 billion in revenue for the quarter ended in
October.
Along with Cisco, declines came from tech-sector leaders such as
IBM Corp. (IBM), Microsoft Corp. (MSFT), Netflix Inc. (NFLX) and
Google Inc. (GOOGL).
The tech-heavy Nasdaq Composite Index (RIXF) was off by 11
points at 4,649, while the Philadelphia Semiconductor Index (SOX)
gave up 0.6%.
Mild gains came from Yahoo Inc. (YHOO), which rose almost 1% to
$49.51 a share after saying late Tuesday it would acquire video-ad
platform company Brightroll for $640 million
Advancers also included Apple Inc. (AAPL), Groupon Inc. (GRPN),
Oracle Corp. (ORCL) and Twitter Inc. (TWTR).
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