By Dow Jones Business News,
June 17, 2014, 04:15:00 PM EDT
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks closed with broad gains Tuesday, with Netflix Inc. among the advancers
after Morgan Stanley gave a positive view of the online video-streaming company based on the potential for new gains in
Netflix (NFLX) shares rose more than 3% to close at $443.65 after Morgan Stanley analyst Benjamin Swinburne started
his coverage of the company with an overweight rating and $500-a-share price target. Swinburne said that Netflix's "
proven success in [its] initial markets provides a roadmap to success in new markets" and that the company should be
able to reach 110 million subscribers worldwide by 2020 due to increased rollout of broadband technology.
Micros Systems Inc. ( MCRS ) shares climbed nearly 15% to close at $66.33 following a report from Bloomberg that said
Oracle Corp. (ORCL) is near a more-than-$5 billion deal to acquire the provider of software for hotels, restaurants and
Online travel agency Orbitz Worldwide Inc. (OWW) ended the day up by almost 5% at $8.50 a share. UBS analyst Eric
Sheridan initiated coverage of Orbitz with a buy rating and $10-a-share price target due to the potential for gains from
its hotel business.
Amazon.com Inc. ( AMZN ) dipped into the red, and gave up $2 a share to close at $325.62.7 a day ahead of a company
event that is expected to involve the introduction of a smartphone from the online retailer.
Gains also came from Microsoft Corp. (MSFT), eBay Inc. ( EBAY ) and Facebook Inc. ( FB ).
The tech-heavy Nasdaq Composite Index (RIXF) rose 16 points to close at 4,337 while the Philadelphia Semiconductor
Index (SOX) added 0.7% on the day..
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