By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Twitter Inc. had another day of
solid gains Tuesday, as the microblogging company's stock continued
to reach new highs following the release of tools aimed at better
targeting ads for customers.
Twitter (TWTR) climbed almost 6%, to end the day at $51.99 as
investors threw more support behind the company after last week's
release of a new feature called "tailored audiences" designed to
help advertisers find and send ad messages to potential customers
on Twitter's network. Tuesday's gains followed on the heels of
Twitter's stock rising more than 9% in Monday's trading session. It
was Twitter's highest close since the company went public a little
more than a month ago.
Among other social-media stocks, Groupon Inc. (GRPN) rose more
than 4%, to $10.04, Pandora Media Inc. (P) closed with a gain of
3.7% at $29.25, Netflix Inc. (NFLX) rose 2% to $363.10 and Facebook
Inc. (FB) rose almost 3% to close at $50.21.
Semiconductor technology company Rambus Inc. (RMBS) ended the
day up by more than 12%, to close at $9.58, after it reached a
patent-license deal with Micron Technology Inc. (MU). The agreement
involves Micron receiving the right to use any of Rambus' patents
for use in the making of some chip products, and Micron making
quarterly royalty payments to Rambus over the next seven years.
Yahoo Inc. (YHOO) shares rose 3.5%, to $40.22. RBC Capital
Markets analyst Mark Mahaney raised his price target on Yahoo's
stock to $44 a share from $38. Mahaney said that meetings last week
in China have resulted in a new "appreciation" for Yahoo's 24%
stake in Chinese Internet leader Alibaba.
Broadcom Corp. (BRCM) shares rose 2.3%, to $28.51. On Tuesday,
Broadcom raised its fourth-quarter revenue forecast to $2.05
billion from almost $2 billion due to "a better-than-expected
revenue in each reportable segment, particularly in infrastructure
and networking." The new outlook helped ease some concerns that
Cisco Systems' weaker-than-expected forecast would weigh on
Broadcom.
The Nasdaq Composite Index (RIXF) ended the day down by 8 points
at 4,060 and the Philadelphia Semiconductor Index (SOX) also closed
with a small loss.
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