3 Technology Stocks Up Big, 2 Heavy Weights Down
Technology stocks slid into the redzone on Tuesday afternoon while Research in Motion and Seagate Technology were a few stocks that remained green.
Research in Motion (NASDAQ:RIMM): RIM announced a new service enabling its corporate customers to manage their mobile devices while using both the BlackBerry operating system with Android and iOS systems. The stock is currently up 5.94 percent.
Seagate Technology (NASDAQ:STX): Seagate reported a better-than-expected revenue outlook. The news comes from the negative effect of the Thailand floods on rival, Western Digital (NYSE:WDC). The stock is currently up 3.90 percent.
Hewlett-Packard (NYSE:HPQ): Hewlett’s stock got a slight bump after RBC updgraded the stock to Outperform from Sector Perform. Analyst Amit Daryanani said in his research note, “We are incrementally confident that H-P has reset the bar low-enough where HP should meet expectations and likely deliver upside to consensus estimates.” The stock is currently up 2.37 percent.
Yahoo! Inc. (NASDAQ:YHOO): Yahoo received interest from private equity firm Thomas H. Lee Partners Co. to possibly buy out the struggling company, according to Reuters. The stock is currently up 2.83 percent.
A few technology stocks did take a hard hit today.
Corning Inc. (NYSE:GLW): Corning cut its LCD glass volume growth forecast for the fourth quarter. The company will also cut its global capacity by 25 percent and greatly reduce LCD glass prices by quarter’s end. The stock is currently down 12.8 percent.
LinkedIn (NYSE:LNKD): LinkedIn has recently received varying analyst reports in the last few weeks. The stock is currently down 3.17 percent.