SAN FRANCISCO (MarketWatch) — Tech stocks delivered a mostly upbeat trading performance Tuesday, as the sector prepared for an onslaught of earnings reports.
Intel INTC, +2.13% , which kicked off the tech results, saw shares rise more than 2% to close at $32.14. Shortly after the market closed, Intel reported third-quarter earnings of 66 cents a share on $14.55 billion in revenue, beating FactSet analysts estimates for earnings by a penny.
Netflix Inc. NFLX, +2.40% which reports its third-quarter results after Wednesday’s market close, rose 2.4% to close at $449.12.
Other gains came from Pandora Media Inc. P, +1.91% Oracle Corp. ORCL, +0.60% Amazon.com Inc. AMZN, +0.61% and online travel agency Orbitz Worldwide Inc. OWW, +2.43% which rose 2.4% to close at $7.60 a share after having its rating upgraded to outperform from market perform by FBR Capital Markets analyst Jake Fuller.
Apple Inc. AAPL, -1.06% shed 1% to close at $98.75 in advance of a company event Thursday that is expected to focus on the release of new iPads
Alibaba Group BABA, -0.20% gave up 17 cents to close at $84.95 a share. However, UBS analyst Erica Werkun initiated her coverage of the Chinese Internet company with a buy rating and $100-a-share price target.
The Nasdaq Composite Index COMP, +0.32% rose 13 points to close at 4,227 and the Philadelphia Semiconductor Index SOX, +1.86% added almost 2%.
