By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- The tech sector was clinging to
slight gains Friday, getting a boost from rallying shares of
Hewlett-Packard, Groupon and Facebook.
H-P (HPQ) rose more than 4%, while Groupon (GRPN) jumped 6%.
Groupon unveiled a revamped website in a bid to transition from
being mainly an online daily deals site to an online market place.
The company also introduced updated versions of its smartphone
apps.
Shares of Facebook (FB) gained 2% as the social network
continued to recover from steep loses following its third-quarter
report on Wednesday. Facebook blew past Wall Street estimates, but
then rattled investors with comments about signs of declining teen
usage and its plan not to ramp up newsfeed ads.
The Nasdaq Composite Index (RIXF) was up 0.1% to 3,925. The
benchmark was still down a fraction for the week. The Morgan
Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor
Index(SOX) were each up a fraction.
On the downside, shares of Texas Instruments (TXN) and Advanced
Micro Devices (AMD) were in the red. Shares of LinkedIn (LNKD) ,
Cisco Systems (CSCO) and EMC (EMC) were each also down
fractionally.
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