By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Enthusiasm over comments from
Chief Executive Meg Whitman about the prospects for Hewlett-Packard
Co. gave a big lift to the tech giant's shares Wednesday and
claimed the spotlight on what was an otherwise mixed day for the
tech sector.
H-P (HPQ) shares rose almost 9%, to close at $22.60, after
Whitman said she expects H-P's sales to stabilize and that the
company is seeing "pockets of growth." Whitman made the comments at
H-P's annual analyst meeting, held in San Jose, Calif.
Apple Inc. (AAPL) managed to climb more than 1%, to close at
$486.59. The company said its new iPhone 5C and 5S smartphones
would be available in more than three dozen more countries starting
Oct. 25, including Russia, Italy and Spain.
Among other leading tech stocks, IBM Corp. (IBM) shares rose
1.5% and Microsoft Corp. (MSFT), Seagate Technology (STX) and EMC
Corp. (EMC) also edged into positive territory.
However the tech-heavy Nasdaq Composite Index (RIXF) lost ground
for a third-straight day, falling 17 points to 3,677. The
Philadelphia Semiconductor Index (SOX) also closed in the red.
Early market enthusiasm over President Obama's plans to nominate
Janet Yellen as the next Federal Reserve chairwoman waned, and the
majority of the tech sector turned south along with the broader
market.
The Internet sector, in particular, headed into the red. Groupon
Inc. (GRPN) fell 2.5% to $10.26, Netflix Inc. (NFLX) dropped 4.6%
to $288.43, Angie's List Inc. (ANGI) fell 7% to $14.58 and Pandora
Media Inc. (P) fell 2% to close at $23.78.
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