Tech Winners & Losers: Netflix
Tech stocks were in the red Tuesday, along with
, following a spike in oil prices and higher-than-expected inflationary data.
Netflix
(NFLX) - Get Report
rose $1.40, or 4.4%, to $32.33 after the company said it has teamed up with
Roku
to launch a $100 player that will stream movies directly from Netflix to a television. The move is likely to put Netflix in competition with
Apple's
(AAPL) - Get Report
Apple TV device. Shares of Apple were up 80 cents, to 0.4%, to $184.42.
Shares of
Microsoft
(MSFT) - Get Report
fell 69 cents, or 2.3%, to $28.75 as the company seemed to move ahead
to partner or buy some of
Yahoo!'s
(YHOO)
assets. Microsoft could be interested in just buying Yahoo! search, according to a source
Reuters
. Meanwhile, hedge fund Third Point and investor T Boone Pickens are backing corporate activist Carl Icahn's plan to break up Yahoo!, according to a report from
Reuters
and
CNBC
.
EMC
(EMC)
lost 57 cents, or 3.1%, to $17.40 after an analyst at Bernstein downgraded the stock and reiterated his $19.50 price target. EMC shares are fairly valued at the current level, wrote analyst Toni Sacconaghi in a research note. Sacconaghi also remains cautious on IT spending and said EMC could be affected by turbulence in the financial industry, where the company has many customers.
VMware
(VMW) - Get Report
, which is majority-owned by EMC, shed $1.57, or 2.3%, to $67.69 after Bernstein's Sacconaghi said the stock is richly valued, and the company could face some headwinds going forward.
Motorola
(MOT)
fell 35 cents, or 3.4%, to $9.84. The company's former strategy chief, Richard Nottenburg, who left Motorola Friday
at
Sonus Networks
(SONS)
.
Shares of
SanDisk
(SNDK)
were down $1.11, or 3.7%, to $28.91 following comments by CEO Eli Harari at the JP Morgan Tech conference Monday. Harari reiterated his view that 2008 marks the low point in the NAND flash memory pricing cycle. He also said retail sales in the U.S. were soft in the first quarter through April and expressed caution regarding overall demand for consumer electronics.