Solid day for tech stocks not named RIMM

Overall, Monday was a good day for technology stocks, with the CNET Tech Index and Nasdaq up around 4 percent. Research In Motion was the exception.

Research In Motion was a big loser in an otherwise positive day for tech stocks after it was the subject of a research note authored by a pessimistic financial analyst.

It wasn't the best day for RIM after an analyst published a negative research note. Yahoo Finance

James Faucette of Pacific Crest Securities rained on RIM's parade with a research note Monday suggesting that October sales of RIM's BlackBerrys have been less-than-impressive, causing the stock to plunge $5.10, or 8.64 percent, to close at $53.91 on the Nasdaq stock exchange. The note also comes a day before Apple is expected to report iPhone sales of around 5 million units during the past quarter.

Motorola was up 8 percent on a report that its Android smartphone is getting closer to reality, and Time Warner was up 9 percent on news of pending layoffs at Yahoo , which could force the struggling search company into a deal with Time Warner's AOL division. Yahoo itself was down slightly, just 0.31 percent.

An up-and-down day on the Nasdaq finished strong. Yahoo Finance

After the bell, Sun Microsystems warned that its first-quarter profit would be well below expectations, sending its stock down 6.6 percent in after-hours trading.

Most stocks on the CNET Tech Index were positive, with an overall increase of 4.13 percent on the day.

In the broader markets, the Nasdaq rose 58.74 points, or 3.43 percent, to 1,770.03. The Dow Jones Industrials rose 413.21 points, or 4.67 percent, to 9.265.43 while the S&P 500 rose 44.85 points, or 4.77 percent, to 985.40.

About the author

    Tom Krazit writes about the ever-expanding world of Google, as the most prominent company on the Internet defends its search juggernaut while expanding into nearly anything it thinks possible. He has previously written about Apple, the traditional PC industry, and chip companies. E-mail Tom.

     

    ARTICLE DISCUSSION

    Conversation powered by Livefyre

    Don't Miss
    Hot Products
    Trending on CNET

    Hot on CNET

    Saving your life at speed and in style

    Volvo have been responsible for some of the greatest advancements in car safety. We list off the top ways they've kept you safe today, even if you don't drive one.