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Tech Winners & Losers: Yahoo!

Microchip Technology (MCHP - Get Report) shares fell 8.5% to $23.12 after Goldman Sachs downgraded the stock to sell from neutral as a result of a slowdown in the company's core growth and the impact of increased competition. The firm cut Microchip's price target to $21 from $26.

VMware (VMW - Get Report) shares also declined on Wednesday, by 10% to $27.51. Merrill Lynch downgraded the stock to neutral from buy, but raised its price target to $31 from $26.

Shares of IAC/InterActive Corp (IACI - Get Report) were up 3.3% to $17.14 after beating Wall Street's third-quarter estimates.

Without one-time events and expenses related to its spinoffs, IAC would have earned 25 cents per share, well above analysts' expectations of 16 cents per share. Third-quarter revenue rose 10% to $369.3 million, topping estimates for $355.4 million.
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GOOG $641.87 0.42%
IACI $71.35 -1.30%
MCHP $46.53 -0.26%
MSFT $47.15 -0.63%
TWC $188.42 -0.01%


Chart of I:DJI
DOW 17,045.81 -4.94 -0.03%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,823.7820 +12.9940 0.27%

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