Updated from 2:19 p.m. EST with new stock prices
Tech stocks traded lower Thursday as Wall Street was weighed down by the spike in wholesale inflation data and continuing uncertainty over the effectiveness of the
measures to ease liquidity.
was up 75 cents, or 2.2%, to $35.22, inching closer to its 52-week high of $37.50.
The software giant said Wednesday it has bought British mapmaker
to improve its Live Web service. Meanwhile, Microsoft is facing antitrust allegations filed with the European Commission by Norwegian browser company
rose 3.7% after a Wall Street analyst commented that an unfavorable letter from some members of Congress to Attorney General Michael Mukasey over approval of the Sirius-XM merger is unlikely to impact the deal.
Sirius also fought back Thursday with a list of Congressional representatives in favor of the deal. Shares of the satellite radio provider were up 12 cents to $3.41.
rose 78 cents, or 5.9%, to $13.99.
Optical networking company
saw its shares fizzle after it set 2008 targets below Wall Street expectations. The company expects sales to grow 20% from fiscal 2007, but analysts polled by Thomson Financial were expecting sales to rise 22% to $945.4 million. Ciena was down $5.08, or 12.1%, to $37.04.
Shares of chipmaker
were down 1.5% after the company said it hopes to get out of the red in the second half of 2008, though it will delay the launch of its new server chip, Barcelona, until early next year.
The company also said during its annual
analysts' meeting on Wednesday that it will take an impairment charge tied to the goodwill value of
, the Canadian graphics chipmaker it acquired in 2006. AMD said the charge, still undetermined, will impact the company's financial results. AMD was down 13 cents to $8.84.
was down 3.3% after rival Microsoft said it has started testing its server virtualization technology with customers.
The beta version of the product was previously slated for the first quarter of 2008. VMware was off $3.23 to $96.00.
, which has an 86% stake in VMware, was down 50 cents, or 2.5%, to $19.18.