By Dow Jones Business News, October 11, 2013, 04:34:00 PM EDT
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks claimed the high ground Friday, with advances coming from sector leaders
such as IBM Corp. and eBay Inc., as losses from Micron Technology Inc. and others putting a damper on investors'
IBM ( IBM ) rose $1.39 a share to $186.16 and eBay ( EBAY ) shares rose almost 2% to $54.37. Both companies are scheduled
to report quarterly results next week.
A report from Bloomberg said that eBay Chief Executive John Donahoe declined to be considered for replacing outgoing
Microsoft Corp. ( MSFT ) CEO Steve Ballmer, who announced plans to retire in August. Microsoft shares edged up by 37 cents
to close at $34.13.
Google Inc. ( GOOG ) rose $3.75 a share to end the day at $871.99. The company said it would increase its investments
in solar energy and will put $103 million a solar project run by Silver Ridge Power, in California.
Gains also came from Hewlett-Packard Co. ( HPQ ), up 2% to close at $22.80, Amazon.com Inc. ( AMZN ) which rose almost 2%
to $310.89 and Oracle Corp. ( ORCL ), which rose almost 1%, to $33.26.
Apple Inc. ( AAPL ), Netflix Inc. ( NFLX ) and Intel Corp. ( INTC ) also closed with gains.
The broad slate of advancers helped the Nasdaq Composite Index (RIXF) rise 31 points, or nearly 1%, to close at 3,791.
The Philadelphia Semiconductor Index (SOX) also managed to edge into positive territory by the end of trading.
The most-notable losses came from Micron ( MU ), which fell more than 8%, to $16.84 a share, following the chipmaker's
late-Thursday earnings results. Micron reported fiscal fourth-quarter sales that exceeded expectations, but its
earnings, excluding a specific one-time gain, failed to meet Wall Street analysts' forecasts.
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