Tech Winners & Losers: Netflix

The company will team up to compete against Apple's TV-streaming offering.
By Priya Ganapati ,

Updated from 2:30 p.m. EDT with new stock prices

Tech stocks were in the red Tuesday, along with

the major market indices

, following a spike in oil prices and higher-than-expected inflationary data.

Netflix

(NFLX) - Get Report

rose 65 cents, or 2.1%, to $31.63 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 $2.30, to 1.3%, to $185.90.

Shares of

Microsoft

(MSFT) - Get Report

fell 70 cents, or 2.4%, to $28.76 as the company seemed to move ahead

with its plan

to partner or buy some of

Yahoo!'s

(YHOO)

assets. Microsoft could be interested in just buying Yahoo! search, according to a source

cited by

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 69 cents, or 3.8%, to $17.28 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 $1.30, or 1.9%, to $68.00 after Bernstein's Sacconaghi said the stock is richly valued, and the company could face some headwinds going forward.

Motorola

(MOT)

fell 38 cents, or 3.7%, to $9.82. The company's former strategy chief, Richard Nottenburg, who left Motorola Friday

took the helm

at

Sonus Networks

(SONS)

.

Shares of

SanDisk

(SNDK)

were down $1.01, or 3.4%, to $29.01 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.

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