By Benjamin Pimentel
The tech sector ended up putting in a mixed performance Tuesday
as it struggled against losses from the likes of Dell Inc. and
Take-Two Interactive Inc. and awaited the latest quarterly results
from Intel Corp.
Dell's (DELL) shares fell $1.05, or more than 8%, to close at
$11.97 after the computer maker forecast a decline in
second-quarter gross margins. The company also addressed analysts
at a meeting near its Round Rock, Texas headquarters, but said
little to move investors.
Take-Two (TTWO) fell 88 cents a share, or almost 10%, to $8.10
after the video-game publisher cut its forecast for the next two
quarters and said it was delaying the release of "BioShock 2,"
which was its most highly anticipated new game title this year.
Take-Two said it plans to give the developers more time and plans
to release the title sometime in the first half of 2010.
Other declines came from Microsoft Corp. (MSFT), Hewlett-Packard
Co. (HPQ), IBM Corp. (IBM), Apple Inc. (AAPL) and EMC Corp.
(EMC).
Despite those losses, the tech sector got enough of a lift from
chip companies as the Philadelphia Semiconductor Index (SOX) rose
1.6% on gains from Nvidia Corp. (NVDA) and Applied Materials Inc.
(AMAT).
The Nasdaq Composite Index (RIXF) rose 6.5 points to close at
1,799, while the Morgan Stanley High Tech 35 Index (MSH) managed to
edge into positive territory.
Intel Corp. (INTC) shares rose 34 cents, or 2%, to close at
$16.83. The chip giant reported second-quarter results after the
closing bell.
Gains also came from Internet bellwethers Google Inc. (GOOG),
Amazon.com Inc. (AMZN) and eBay Inc. (EBAY).