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Software industry

Technology Stocks Experience Fractional Decline in Mid-Day Trading

Strategic Insights

— 1 min read

Technology shares experienced a minor decline in mid-day trading on November 25, 2009, with the Dow Jones U.S. Technology Index falling by 0.05% to 567.12. Among the top technology stocks, Microsoft (MSFT) saw a decline of 0.54%, while Apple (AAPL) dropped 0.16%. On the other hand, Google (GOOG) gained a negligible 0.02%. IBM (IBM) and Cisco Systems (CSCO) saw minor declines of 0.53% and 0.03%, respectively.

Key Takeaways:

  • Microsoft and eBay partnered to offer eBay daily deals through a new Internet Explorer 8 web slice for the holidays.
  • JDS Uniphase (JDSU) experienced a gain after Citigroup initiated coverage with a Buy rating and a $9.50 price target.
  • LM Ericsson and Kapsch CarrierCom won the auction for Nortel Networks' GSM/GSM-R businesses, agreeing to pay $103 million in cash.
  • Citigroup identified JDSU as an "intriguing mix of growth businesses" in a Bloomberg report.
  • Microsoft and eBay will present online daily deals through the new Windows Internet Explorer 8 web slice, showcasing products selling at deep discounts.
  • Most holiday shoppers are looking to save money, according to the market trend.

Statistics:

  • Dow Jones U.S. Technology Index: +0.29 (+0.05%) at 567.12
  • Microsoft (MSFT): -0.54%
  • Apple (AAPL): -0.16%
  • IBM (IBM): -0.53%
  • Cisco Systems (CSCO): -0.03%
  • Google (GOOG): +0.02%
  • $103 million: the cash price for Nortel Networks' GSM/GSM-R businesses sold to LM Ericsson and Kapsch CarrierCom
  • 0.05%: the decline in the Dow Jones U.S. Technology Index

Sources:

  • MidnightTrader.com, "Dow Jones U.S. Technology Index: +0.29 (+0.05%) at 567.12"
  • Bloomberg, "Citigroup Identifies JDSU as Growth Stock"
  • Comtex News Network, Inc., "As of Saturday, 11-21-2009 23:59, the latest Comtex SmarTrend Alert indicated..."

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