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Tech Stocks in Motion

Updated from 12:40 p.m. EDT

Philips Electronics (PHG - Get Report) slumped 4% after the maker of flat screen TVs and other consumer goods warned of a soft second quarter. Slack demand, particularly in Europe, is "hampering our growth ambitions in the short term," CEO Gerard Kleisterlee said in a statement Wednesday. U.S. shares in the Amsterdam-based company fell $1.14 to $25.95.

Nvidia (NVDA - Get Report) traded actively after the company said its PureVideo decoder won approval from TiVo (TIVO - Get Report) for use with its TiVoToGo feature, which transfers programs from a TiVo digital video recorder to a PC. Wednesday's move comes on top of a 6% drop Tuesday as investors worried about a price cut at Nvidia. Shares of the Santa Clara, Calif., company dropped 8 cents to $26.83.

Silicon Storage Technology (SSTI) rose 18% after WR Hambrecht upgraded the stock to buy from sell, citing its recent Apple (AAPL) deal. Silicon Storage rose 62 cents to $4.13.

Internet Initiative Japan (IIJI - Get Report) traded actively again after the Internet highflier said it raised some $61 million in a stock offering in Japan. Wednesday's action comes on the heels of a wild runup in the stock. IIJ dropped 3 cents to $10.95.

DayStar (DSTI) fell 4% after the maker of solar panels filed a recent press release with the Securities and Exchange Commission. Like IIJ, DayStar has seen some active trading in its shares recently. On Wednesday, the stock dropped 49 cents to $13.45.

Other tech stocks on the move included Applied Materials (AMAT - Get Report), down 2 cents to $16.88; Symantec (SYMC), up 33 cents to $21.48; Google (GOOG), down $3.55 to $274.80; Qualcomm (QCOM), down 22 cents to $34.86; and eBay (EBAY), up a quarter to $37.34.

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DSTI $0.05 -37.50%
AMAT $20.34 -2.30%
EBAY $24.16 -1.90%
IIJI $10.02 2.34%
NVDA $35.52 -1.90%


Chart of I:DJI
DOW 17,716.81 -113.95 -0.64%
S&P 500 2,057.50 -18.31 -0.88%
NASDAQ 4,759.5450 -45.7460 -0.95%

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