By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks tried to bounce back
from the prior-day's losses Friday, with Twitter Inc. positioning
itself among the gainers in the wake of a report that highlighted
the company's opportunities in the market for online video
advertising.
Twitter (TWTR) shares climbed $2.77, or 4%, to $70.27. The
microblogging company was seen as benefitting from a report
Thursday from Evercore Partners analyst Ken Sena, in which he cited
Twitter's opportunities in the market for U.S. online video
advertising. Sena estimated that the market for video ads will rise
to $8.1 billion by 2016, and that 17% of Twitter's revenue by that
year could come from video advertising.
Among other online and social-media companies Facebook Inc. (FB)
rose 9 cents a share at $54.78, LinkedIn Corp. (LNKD) was off by 75
cents at $206.89, Amazon.com Inc. (AMZN) rose $2.13 a share to
$400.30 and Yahoo Inc. (YHOO) rose 63 cents to $40.22.
Hewlett-Packard Co. (HPQ) recovered from its Thursday losses to
rise 64 cents a share, or 2.3%,to $28.30 a share. Gains also came
from IBM Corp. (IBM) and Pandora Media Inc. (P).
The tech-heavy Nasdaq Composite Index (RIXF) slipped by 8.73
points to 4,134.3, while the Philadelphia Semiconductor Index (SOX)
was also in the red.
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