TECH STOCKS: Twitter At New High After Releasing A
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Posted On: 12/16/2013 7:39:47 AM
TECH STOCKS: Twitter At New High After Releasing Ad-targeting Tools
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Twitter Inc. had another day of solid gains Tuesday, as the microblogging company's stock continued to reach new highs following the release of tools aimed at better targeting ads for customers.
Twitter (TWTR) climbed almost 6%, to end the day at $51.99 as investors threw more support behind the company after last week's release of a new feature called "tailored audiences" designed to help advertisers find and send ad messages to potential customers on Twitter's network. Tuesday's gains followed on the heels of Twitter's stock rising more than 9% in Monday's trading session. It was Twitter's highest close since the company went public a little more than a month ago.
Among other social-media stocks, Groupon Inc. (GRPN) rose more than 4%, to $10.04, Pandora Media Inc. (P) close with a gain of 3.7% at $29.25, Netflix Inc. (NFLX) rose 2% to $363.10 and Facebook Inc. (FB) rose almost 3% to close at $50.21.
Semiconductor technology company Rambus Inc. (RMBS) ended the day up by more than 12%, to close at $9.58, after it reached a patent-license deal with Micron Technology Inc. (MU). The agreement involves Micron receiving the right to use any of Rambus' patents for use in the making of some chip products, and Micron making quarterly royalty payments to Rambus over the next seven years.
Yahoo Inc. (YHOO) shares rose 3.5%, to $40.22. RBC Capital Markets analyst Mark Mahaney raised his price target on Yahoo's stock to $44 a share from $38. Mahaney said that meetings last week in China have resulted in a new "appreciation" for Yahoo's 24% stake in Chinese Internet leader Alibaba.
Broadcom Corp. (BRCM) shares rose 2.3%, to $28.51. On Tuesday, Broadcom raised its fourth-quarter revenue forecast to $2.05 billion from almost $2 billion due to "a better-than-expected revenue in each reportable segment, particularly in infrastructure and networking." The new outlook helped ease some concerns that Cisco Systems' weaker-than-expected forecast would weigh on Broadcom.
The Nasdaq Composite Index (RIXF) ended the day down by 8 points at 4,060 and the Philadelphia Semiconductor Index (SOX) also closed with a small loss.
More technology news from MarketWatch:
Outerwall plans job cuts amid restructuring
Internet giants push NSA to do self-searching
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Subscribe to WSJ: http://online.wsj.com?mod=djnwires
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Twitter Inc. had another day of solid gains Tuesday, as the microblogging company's stock continued to reach new highs following the release of tools aimed at better targeting ads for customers.
Twitter (TWTR) climbed almost 6%, to end the day at $51.99 as investors threw more support behind the company after last week's release of a new feature called "tailored audiences" designed to help advertisers find and send ad messages to potential customers on Twitter's network. Tuesday's gains followed on the heels of Twitter's stock rising more than 9% in Monday's trading session. It was Twitter's highest close since the company went public a little more than a month ago.
Among other social-media stocks, Groupon Inc. (GRPN) rose more than 4%, to $10.04, Pandora Media Inc. (P) close with a gain of 3.7% at $29.25, Netflix Inc. (NFLX) rose 2% to $363.10 and Facebook Inc. (FB) rose almost 3% to close at $50.21.
Semiconductor technology company Rambus Inc. (RMBS) ended the day up by more than 12%, to close at $9.58, after it reached a patent-license deal with Micron Technology Inc. (MU). The agreement involves Micron receiving the right to use any of Rambus' patents for use in the making of some chip products, and Micron making quarterly royalty payments to Rambus over the next seven years.
Yahoo Inc. (YHOO) shares rose 3.5%, to $40.22. RBC Capital Markets analyst Mark Mahaney raised his price target on Yahoo's stock to $44 a share from $38. Mahaney said that meetings last week in China have resulted in a new "appreciation" for Yahoo's 24% stake in Chinese Internet leader Alibaba.
Broadcom Corp. (BRCM) shares rose 2.3%, to $28.51. On Tuesday, Broadcom raised its fourth-quarter revenue forecast to $2.05 billion from almost $2 billion due to "a better-than-expected revenue in each reportable segment, particularly in infrastructure and networking." The new outlook helped ease some concerns that Cisco Systems' weaker-than-expected forecast would weigh on Broadcom.
The Nasdaq Composite Index (RIXF) ended the day down by 8 points at 4,060 and the Philadelphia Semiconductor Index (SOX) also closed with a small loss.
More technology news from MarketWatch:
Outerwall plans job cuts amid restructuring
Internet giants push NSA to do self-searching
Tech-stock investors may find clues in anti-NSA tactics
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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