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Tech Shares Starting to Catch Up With Broader Market Gains; Microsoft Said Ending Online Cookies

By: MT Newswires
Posted: 10/10/2013 3:47:00 PM
Referenced Stocks: AAPL;FB;GOOG;MSFT

Top Tech Stocks

MSFT +2.31%

AAPL +0.65%

IBM +1.68%

CSCO +2.40%

GOOG +1.42%

Technology stocks are higher near the close with shares of technology companies in the S&P 500 rising nearly 1.7%.

In company news, Microsoft ( MSFT ) is up slightly more than 2% at $ a share with the software giant reportedly said to be considering scrapping Internet cookies and replacing them with its own tracking technology, Ad Age says.

Several other technology heavyweights - including Google ( GOOG ), Apple ( AAPL ), Facebook ( FB ) and Amazon (AMXON) - have voiced similar interest in finding a substitute to cookies, according to the article.

In MSFT's case, the company would develop its own tracking technology spanning desktop PCs, mobile devices and tablets running the Windows software, as well as devices and applications like the Xbox videogame console, Internet Explorer browser and Bing search engine, Ad Age says.

In other sector news,

(-) CTXS, Credit Suisse pares price target 39% to $85 a share after the inter-office networking company warns its Q3 earnings and revenue would trail both prior forecasts and Wall Street estimates.

(-) CKSW, Sees Q3 net loss of $0.10 per share, ex items, lagging Wall Street view by $0.13. Revenue is seen falling 15.1% year over year to $23.2 mln, also missing expectations by $5.05 mln.