By Rex Crum
Technology stocks showed signs of life in early trading Thursday
as gains from the likes of Apple Inc. and Hewlett-Packard Co.
countered losses from Oracle Corp. after the software giant's
disappointing quarterly sales report.
Among leading tech stocks, Apple (AAPL) rose $2.11 a share to
$184.04, H-P (HPQ) was up 43 cents a share at $46.10 and IBM Corp.
(IBM) rose 32 cents a share to $122.15.
Online retailer eBay Inc. (EBAY) rose 16 cents a share to
$24.47. Before the market opened, The Wall Street Journal reported
that the founders of Skype have filed a copyright suit against eBay
and a group of investors trying to acquire control of Skype.
Other gains came from Dell Inc. (DELL), Cisco Systems Inc.
(CSCO) and Yahoo Inc. (YHOO).
The tech-heavy Nasdaq Composite Index (RIXF) rose 6.4 points to
2,319, while the Philadelphia Semiconductor Index (SOX) edged into
positive territory. The Morgan Stanley High Tech 35 Index (MSH)
slipped into the red.
Oracle (ORCL) was one of the top decliners, falling 69 cents a
share, or more than 3%, to $21.41.
Late Wednesday, the business-software giant reported
first-quarter results that included weak sales and the company gave
few signs that an improvement will occur any time soon.
NetApp Inc. (NTAP) shares gave up 22 cents to trade at $24.78.
The data-storage company was downgraded by MKM Partners.
Palm Inc. (PALM) shed 17 cents a share to $14.49 ahead of the
company's quarterly results, due after the market close.