Technology stocks gave in to late profit-taking, with shares of
technology companies in the S&P 500 ending with a 0.4% decline
In company news, shares of International Business Machines Corp.
) were narrowly lower in late Friday trading and the technology
giant reportedly beginning to lay off a portion of its U.S.
workforce as part of a recently announced $1 billion
Workers in New York, Vermont, Minnesota, Iowa, Missouri,
Oklahoma and North Carolina were fired yesterday, according to
Bloomberg News, citing an employee group, Alliance@IBM. IBM had
431,212 employees worldwide at the end of 2013, according to
Shares were down 0.6% at $184.22 each in recent trade, bouncing
off its session low after giving in to a late selloff. The stock
has a 52-week range of $172.19 to $215.90 a share.
In other sector news,
(+) YOKU, Q4 net loss of $0.02 per share tops analyst consensus
by $0.03. Revenue climbs 46% over same quarter last year to $148.9
million, topping estimates by $3.55 million. Q1 guidance of $110.3
mln to $116.8 mln is in-line with $114 mln consensus. Mentioned
cautiously by Pacific Crest.
(-) NIHD, Warns it needs to "significantly" improve operating
performance and liquidity to meet its financial obligations and
fund the business in 2015 and beyond. Q4 net loss of $4.33 per
share is $2.48 wider than expected. Revenue falls 21.8%.
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