Google, eBay up, but indexes down
A handful of tech stocks swim against the tide and post gains in a day that saw the broader markets close out in the red.
Despite a down day for the broader markets Friday, a handful of tech stocks swam against the tide, posting modest single-digit gains.
Google, Symantec, and eBay were just some of the tech companies to finish the day in the black. The CNET Tech Index was down a modest 1.59 points to end the day at 1,185.55.
Google closed up 5.53 percent to $372.54 a share, which comes as little surprise considering the tech titan posted stronger-than-expected third-quarter earnings results on Thursday. And on Friday, a number of analysts released largely positive comments on the quarter, while giving a cautious outlook for the coming quarters and years on revenue growth.
eBay, meanwhile, was up 2.54 percent to $15.35 a share, a welcome change for the e-commerce giant which earlier in the week saw its shares punished after posting its third-quarter results, in which it revised its fourth-quarter projections downward.
Symantec, meanwhile, gained 4.09 percent to close at $15.28 a share. The security software giant may have gotten a lift following a report in Barron's that investors may find a safe harbor in security software stocks.
As for the broader markets, they ended a wild week in the red.
The Dow Jones Industrial Average closed down 127.04 points at 8,852.22--a rather modest ending to a week that saw the Dow soar 936.42 points on Monday, marking its largest single one-day gain; it then traversed back and forth, crossing the 9,000 mark several times throughout the week.
The Nasdaq closed down 6.42 points to close the session at 1,711.29, while the S&P 500 dipped 5.88 points to finish up at 940.55.
The following chart shows Friday's closing numbers: