Tech stocks were up modestly on Monday, as the dust settled following a week heavy with earnings reports for the sector.
shares were sliding 5.5% after the Internet giant gave back some of the gains it made last week from investors hoping to cash in on the
IPO in Hong Kong. Yahoo! owns a 40% stake in the Chinese Internet company's parent Alibaba Group, according to
. The stock is expected to begin trading on Nov. 6. Yahoo! shares were lower $1.86 to $31.77.
, on the other hand, was rebounding after last week's selloff. A Citi Investment Research analyst said the Latin American wireless stock was oversold after last week's poor earnings, according to the
. Shares were adding $2.74, or 4.6%, to $62.37.
was adding 5.8%, after a Lehman Brothers analyst reiterated an overweight rating, saying the computer networking company is likely to grow throughout 2008, according to the
. Shares were gaining $1.97 to $35.92.
shares were rallying 5.6% on no major news. The GPS device maker is set to report earnings on Wednesday. Shares were adding $6.56 to $123.71.
Several chipmakers' shares were jumping after the Semiconductor Industry Association said global chip sales grew 5.9% in September vs. the year-ago period. Sales of NAND flash were up 58.5%.
was adding 6.1% to $17.87.
, which makes flash storage cards, was up 3.6% to $42.51.
On the down side,
( MOT) was falling 2.4% after
reported the mobile phone maker could sell $1 billion in debt in a three-part offering as early as today. Shares were losing 46 cents to $18.78.
The Nasdaq 100 was adding 7.10 points to 2207.69.