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Tech Winners & Losers: Salesforce.com

Tech stocks were trading lower on Thursday, with the Nasdaq shedding 4 points to 2385 as a surge in crude oil prices and a weakening dollar dampened the mood on Wall Street.

Salesforce.com (CRM - Get Report) plummeted 17% to $53.91 a day after providing quarterly guidance below analysts' expectations.

The San Francisco-based software company signaled a potential slowdown in bookings growth and a rise in marketing expenses. Although Salesforce doesn't disclose bookings data, its deferred revenue grew at 49% year over year during the second quarter and only 2% consecutively, indicating a drop-off in new bookings.

Shares of IAC/Interactive (IACID) were up 7.5% to $16.51 on its first day of trading as a spin-off. IAC, which includes Ask.com and Evite, had been part of a larger Internet conglomerate that was split into five separate companies.

The other spin-offs were also surging on Thursday. HSN (HSNI - Get Report) was up 19% to $15. Interval Leisure Group (IILG - Get Report) was up 12% to $15.82. And Ticketmaster was up 10.3% to $23.86.

Only the Tree.com (TREE - Get Report) (formerly Lending Tree) lagged behind the other spin-offs, up a modest 3.9% to $7.71.

JDS Uniphase (JDSU - Get Report) saw its share plunge 14% to $10.23. The communications equipment provider had posted a wider-than-expected loss in the fourth quarter and missed Wall Street estimates.

Shares of Synopsys (SNPS - Get Report) were also on a downward slide after providing fourth-quarter guidance below Wall Street estimates. The stock was down 11.1% to $21.46 . Citigroup lowered its rating on the design-automation software company to sell from buy.

Shares of Semtech (SMTC - Get Report) were up 3% to $15.50 after it reported a 29% increase in second-quarter profit, topping analysts' estimates. Second-quarter revenue rose 16% to $78 million, matching Wall Street expectations.

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SYM TRADE IT LAST %CHG
CRM $75.01 0.00%
HSNI $67.81 0.00%
IILG $25.84 0.00%
JDSU $12.79 0.00%
SMTC $23.63 0.00%

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DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

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