NEW YORK (
) -- The
rose 8 points to 2791
ahead of the holiday weekend
The winners in the tech sector included
Marvell Technology Group
(MRVL - Get Report)
, whose shares climbed nearly 10% to $16 in late afternoon trading Friday on its second-quarter outlook. The semiconductor company said its wireless components business will increase 20% this quarter thanks to strong growth from mobile devices, WiFi and game consoles.
(BRCM - Get Report)
shares jumped 5.3% after research firm FBR Capital Markets added the stock to its top picks list. The chipmaker is poised to capitalize on rapid growth in the smartphone market, FBR said.
(SEAC - Get Report)
shares soared 13% after reports surfaced that the company is in talks to be acquired by communications equipment maker
. Talks are still preliminary and the two parties are not close to reaching a deal, reports said.
(MENT - Get Report)
saw its shares drop 7.5% to $13.54 after delivering a second-quarter outlook that's below Wall Street expectations.
The company, which makes electronic design automation systems, forecast adjusted earnings of 5 cents a share for the current quarter, excluding special items, on revenue of $210 million. Analyst on average were expecting earnings of 20 cents a share on revenue of $229 million.
shares tumbled 8.8% after the company posted a lower quarterly profit than the previous quarter. On Friday, investment bank Morgan Keegan put out a report that noted OmniVision's reliance on
. The chip company currently generates about 10% of its revenue from Apple.
Written by Olivia Oran in New York
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