(Updates from 2 p.m. ET with closing information in the last paragraph.)
NEW YORK (
) -- Technology shares sank with the broader market Friday, but there were a number standout performers during the day.
Rally Software Development
(RALY - Get Report)
was jumping 28.79% to $18.03 on its debut on the
New York Stock Exchange
Friday after the maker of cloud-based software applications priced its initial public offering of 6 million shares at $14 a share, exceeding its expected range of $11 to $13 for 5.75 million shares.
(YHOO - Get Report)
was rising 0.74% to $24.67 after
analyst Doug Anmuth raised his price target on the Internet giant to $26 from $22 and maintained a "neutral" view on the company ahead of its first quarter earnings announcement on April. 16. The analyst said he is "incrementally positive on Yahoo! based on improving engagement trends, potential Search upside, and higher implied valuation for Alibaba Group ... but we continue to look for greater improvement in the core business and better execution to become more constructive on the shares from current levels."
( AAPL )
was extending Thursday's losses, off 1.01% to $429.95 after
analyst Amit Daryanani cut his price target on the stock to $550 from $600 and reiterated his "outperform" view on the iPhone maker.
Daryanani explained the company might have faced weaker demand for its products in March. However, that could pick up in the second half of the year on expectations that it will launch a low-cost iPhone and
the iPhone 5S
in July, and anticipation of September upgrades of the iPad and iPad mini and the unveiling of the iOS 7 at the Worldwide Developers Conference in June.
The tech giant fell the previous session after market intelligence company
said that Apple was among the companies who were tallied into its report showing a 13.9%
drop in global PC shipments
in the first quarter. Though the company fared better than the overall U.S. market, it still saw shipments decline as its own PCs also faced competition from iPads.
( MSFT )
was off 0.43% to $28.81 contributing to the prior session's plunge after
in part blamed Windows 8 for a deep contraction in global PC shipments.
( INTC )
, who is affected by how PC sales are faring, was slipping 1.03% to $21.59 and also adding to the prior session's sell-off.
was sliding 2.31% to $13.55 after
is launching its new music app that suggests artists and tracks to users based on data gleaned from their Twitter accounts, potentially presenting Pandora with an online competitor. Users will be able to listen to clips of music from inside the app, using third-party services like iTunes and SoundCloud, according to AllThingsD.
Payments technology super-powers
were lower in Friday trading as
analyst Greg Smith
downgraded both companies, citing full valuations.
MasterCard was falling 1.75% to $531.59 and Visa was off 1% to $165.95.
was falling 1.18% to 21.43% after the world's largest maker of networking equipment climbed near its 52-week high Thursday.
: RALY was unchanged at $14, YHOO rose 1% to $24.69 and AAPL fell 1% to $429.80. MSFT fell 1% to $28.79, INTC was off 1% to $21.67 but P fell 2.8% to $13.48. V fell 1.1% to $165.75, MA fell 1.5% to $532.99 and CSCO closed down 1% at $21.54.
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