Thursday, May 31, 2012

Tech Stocks: Tech stocks begin week with mild losses

SAN FRANCISCO (MarketWatch) � Tech stocks climbed in late trading Monday, but the overall sector still ended up putting in a mixed performance after the latest round of financial worries related to the euro-zone debt crisis.

Among leading tech stocks, gains came from Apple Inc. AAPL , Dell Inc. DELL , Microsoft Corp. MSFT and IBM Corp. IBM .

Click to Play Euro leaders aim to ward off future crises

WSJ's Stephen Fidler reports euro-zone leaders are proposing stiff rules and penalties at their summit in Brussels to prevent countries from becoming economically unstable. AP Photo/Petros Giannakouris

The tech-heavy Nasdaq Composite Index COMP �nearly erased all of its losses, but still closed down by 4.6 points at 2,811.94. The Philadelphia Semiconductor Index SOX �was off by 1.1%.

Decliners included Google Inc. GOOG , EMC Corp. EMC �and Juniper Networks Inc. JNPR �.�

Many chip stocks were on the decline, led by Rambus Inc. RMBS , which fell 46 cents a share, or 5.8%, to close at $7.51.

Rambus� shares took a hit following reports on Friday that said the U.S. Patent and Trademark Office invalidated a patent held by the chip-technology licensing company pertaining to memory chips used in PCs.

Other chip stocks in the red included Broadcom Corp. BRCM , Texas Instruments Inc. TXN �and Applied Materials Inc. AMAT .

The tech sector�s performance mirrored that of the broader market, which retreated on reports that Greece wouldn�t accept supervision of its budgetary decisions as one of the conditions for it to receive financial aid. The Greek financial situation is considered one of the most-damaging for the state of the euro. Read more about Greece and the euro crisis.

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