Sector Update: Technology Shares Lower - Zynga Upgraded to Equal-Weight at Morgan Stanley

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Top Technology Stocks:

MSFT: -0.23%

AAPL: -0.91%

IBM: -0.04%

CSCO: -0.53%

GOOG: -1.42%

Technology shares were lower in late afternoon trade Friday.

In technology stocks news, shares of Travelzoo ( TZOO ) sank about 4% after the company announced executive changes. TZOO was trading in a 52-week range of $19.16 to $33.95.

And, IAC/Interactive ( IACI ) is recording a late day push higher, rising from a low of $66.22 to a recent high at $72.34, in the wake of a Bloomberg report the company bought an additional 10% stake in the dating app Tinder.

IAC purchased the stake from VC firm Chamath Palihapitiya for about $500 million, according to Bloomberg.

Finally, Morgan Stanley upgraded the stock of on-line game developer Zynga ( ZNGA ) to Equal-Weight from Underweight after the company announced the appointment of former Best Buy ( BBY ) executive David Lee as the new CFO.

Lee will replace Mark Vranesh who will resign after working with Lee for a one month transition period.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: TZOO , IACI , ZNGA , BBY

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