Updated from 2:49 p.m. EDT with new stock prices
Tech stocks were flat Wednesday, a day after a huge market runup, as
Chairman Ben Bernanke said policymakers are struggling to keep the
in the face of a possible recession.
gained 39 cents, or 6.5%, to $6.39 ahead of the company's second-quarter results. Analysts expect Micron to report a loss of 36 cents a share on revenue of $1.41 billion in the quarter and report a loss of 24 cents a share on revenue of $1.53 billion in the current quarter.
added 58 cents, or 8%, to $7.87 after the company launched new mobile communications products at the CTIA conference in Las Vegas.
fell 68 cents, or 2.4%, to $27.82 as investors feared a drawn-out buyout battle with
. The software behemoth has made a $31-a-share bid for Yahoo!, which Yahoo!'s board rejected. Shares of Microsoft were down 34 cents, or 1.2%, to $29.16.
was down $2.04, or 1.4%, to $147.49 on reports on a widespread shortage in the availability of iPhones at Apple stores in the U.S. The shortage could be due to a disruption in the company's production process or because Apple may be drawing down on inventory as it prepares to launch a new 3G version of the phone, said analysts.
Shares of business software maker
were mostly unchanged, even as the company
boosted its dividend
and announced a successor to its chief executive. SAP's board proposed a dividend of 0.50 euro, or 78.5 cents a share at current exchange rates, compared to a dividend awarded in May 2007 of 0.46 euro, or 62.2 cents a share at exchange rates then prevailing. The company also said Deputy CEO Leo Apotheker will become co-CEO of SAP with current CEO Henning Kagermann and will eventually succeed him.