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Tech Winners & Losers: Google

Tech stocks were on another bumpy ride on Thursday, starting off strong in the morning before flattening out and then climbing slightly by mid-afternoon.

The Nasdaq was up 8 points -- or .38% -- to 2107 in recent trading.

Google (GOOG - Get Report) got a bump on Thursday after comScore showed the Internet giant increasing its market share in search space. Google made up 63% of searches in U.S. in August, up from 56.5% a year ago and 61.9% sequentially, according to Lehman Brothers analyst Doug Anmuth in his latest research report.

Yahoo's (YHOO - Get Report) market share in August accounted for 19.6% of U.S. searches while Microsoft's (MSFT - Get Report) MSN totaled 8.3%.

Google's shares were up 1.9% to $422.19 in recent trading.

Akamai (AKAM - Get Report) slipped 6.1% to $15.97 after Goldman Sachs lowered its price target to $21.50 from $25 based on multiple contractions in the content delivery network space, as well as concerns over competition.

Shares of Adtran (ADTN) climbed 4.9% to $20.79 after Robert W. Baird raised its rating to outperform from neutral. The firm says the stock is now at an attractive entry point, helped by new product cycles in its optical networking as well as a positive impact from next-generation access products.

Tibco Software (TIBX) slipped 3% to $6.85 after Standard & Poor's cut its rating to sell from hold and lowered its price target to $6.50 from $8. The firm cited Tibco's exposure to financial services and telecom companies as cause for concern.

Nortel's (NT) shares also fell on Thursday by 1.9% to $2.73 after JPMorgan cut the company's estimates for next year to a 77-cent a share loss from an 18-cent a share profit. The firm also sees revenue growth and margins weakening.

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SYM TRADE IT LAST %CHG
DTN $73.38 0.04%
TIBX $24.03 0.00%
AKAM $76.71 2.30%
GOOG $626.43 -0.97%
MSFT $46.70 -0.38%

Markets

Chart of I:DJI
DOW 17,690.46 -55.52 -0.31%
S&P 500 2,103.92 -4.71 -0.22%
NASDAQ 5,128.2810 -0.5040 -0.01%

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