Thursday's Tech Winners & Losers: Google
Updated from 2:20 p.m. EDT with new stock prices
SAN FRANCISCO -- Tech investors were seeing green Thursday, with the
Nasdaq
leading most indices higher. Upward momentum was spurred by falling oil prices and a Commerce Department report that revised first-quarter GDP growth upward to 0.9%. The
iShares S&P GSTI Software Index
(IGV) - Get Report
rose 1.5%.
Shares of
(GOOG) - Get Report
were up $14.55, or 2.6%, to $582.79 on a report from comScore that the search giant's paid clicks were up sharply in April -- 19.6% year over year. Paid clicks represent the site's ability to transform queries into clicks on advertising delivered with search results. Susquehanna Financial raised its price target on the stock Thursday to $635 from $600 on the news.
Kosan Biosciences
(KOSN)
jumped $3.77, or 228.5%, to $5.42 on the report that
Bristol-Myers Squibb
(BMY) - Get Report
is acquiring the cancer-drug specialist
for $5.50 a share.
Shares of
Autodesk
(ADSK) - Get Report
rose $1.24, or 3.1%, to $40.94 on an upgrade by American Technology Research. Analyst Donovan Gow rated the developer of computer-aided-engineering software a buy with a one-year price target of $52, noting that Autodesk is gaining market share against competitors
Dassault Systemes
and
Parametric Technology
(PMTC)
.
"ADSK is ideally positioned to benefit from the construction boom in emerging economies with two-thirds international revenue exposure," Gow wrote Thursday.
German chipmaker
Infineon Technologies
(IFX)
tumbled on
the company's warning that third-quarter revenue would fall short of projections
. The stock fell $1.18, or 11.9%, to $8.78, its second decline for the week. The stock dropped 4% Tuesday after the CEO was sacked.
Other notable tech movers:
Cisco
(CSCO) - Get Report
was up 68 cents, or 2.7%, to $26.22.
Sprint Nextel
(S) - Get Report
rose 43 cents, or 4.9%, to $9.24.
And
Ansys
(ANSS) - Get Report
gained $2.48, or 5.7%, to $46.26 on Thursday's report of solid revenue growth at
Ansoft
(SYMBOL)
, which it is acquiring.