TECH STOCKS: Intel, Autodesk Rise In Mixed Tech Action

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks such as Intel Corp. and Autodesk Inc. showed signs of life Tuesday as the sector followed the broad market north in an effort to recoup the previous day's losses.

The overall market got a lift from the latest U.S. housing data, which showed that the nation's home sales rose in December.

The tech-heavy Nasdaq Composite Index (RIXF) remained on edge, dipping 2 points to 3,114, while the Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) both edged into positive territory.

Intel ( INTC ) was among the tech sector leaders on the rise, as the semiconductor giant's shares rose 2% to $20.63. Late Monday, Intel said it would begin making chips on the part of Altera Corp. ( ALTR ) in a move that could help Intel with costs associated with developing new chip technologies.

Design-software company Autodesk ( ADSK ) saw its shares rise 3.5%, to $37.79 a day after it reported fourth-quarter results that rose from a the same period a year ago, and also exceeded Wall Street analysts' estimates. The results outweighed Autodesk giving a lower-than-expected first-quarter outlook.

Online travel site Priceline.com Inc. ( PCLN ) shares rose $2 to $673.11 ahead of the company's quarterly results, due after the market close.

Gains also came from International Business Machines Corp. ( IBM ), Microsoft Corp. ( MSFT ), Hewlett-Packard Co. ( HPQ ) and Seagate Technology ( STX ).

Amazon.com Inc. ( AMZN ) fell slightly to $259 a share. The online retailer announced a content-licensing agreement with Sony Pictures Television ( SNE ) that includes exclusive online subscription rights to the FX Network series "Justified."

Groupon Inc. (GRPN) shares fell 2.2%, to $5.47 ahead of the company's quarterly results on Wednesday.

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  02-26-131056ET
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