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TECH STOCKS: Salesforce, Google Losses Hit Tech Stocks

A sharp drop in shares of Salesforce.com sparked a slump across the corporate-software-vendors group and led the broader tech sector into the red Friday.Google shares (GOOG) were off 1.1% at $873.32, following a report that the company may enter into a bidding war against rival Facebook (FB) for Waze, an Israeli mobile app developer. Facebook shares also fell.The Nasdaq Composite Index (RIXF) was down a fraction Friday, closing at 3,459, ending the week with a 1.1% loss. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High-Tech Index (MSH) each fell by a fraction.Salesforce.com (CRM) fell 5.3% to close at $43.25, after the cloud-software company reported a deeper net loss for the first fiscal quarter, as higher expenses crimped profit margins.Steve Koenig of Wedbush Securities downgraded the stock to a neutral rating, noting that a reported drop in sales commissions "indicates that new sales activity in the quarter was likely down sharply." He cut his price target on ...

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  1. Ralph Lauren Reveals Mixed 4Q Results

    Ralph Lauren (NYSE:RL) beat the Street Thursday morning with a 35% increase in fiscal fourth-quarter profits, but the apparel maker's revenue barely nudged and its f...

  2. Ralph Lauren 4th-Quarter Net Up 35%, Shares Slide on Weak Outlook

    Ralph Lauren Corp.'s (RL) fiscal fourth-quarter earnings jumped 35% as the retailer reported stronger retail sales.But shares tumbled 4.3% to $179.90 in recent prema...

  3. Fisher & Paykel Healthcare: FY13 Net Profit NZ$77.1 Million, Up 20%

    Fisher & Paykel Healthcare (FPH.NZ) reported Thursday a 20% increase as revenue in its respiratory and acute care product group rises 18%.The company said in a state...

  4. Medtronic Sales Rise 4% As Heart, Spinal Sales Rebound

    Medtronic Inc.'s (MDT) fiscal fourth-quarter sales grew roughly 4%, but expenses related to employee layoffs and manufacturing consolidation caused earnings to fall ...

  5. Home Depot's 1st-Quarter Net Up 18% Amid Better Housing Market

    Home Depot Inc.'s (HD) fiscal first-quarter earnings jumped 18% as the improving housing market trumped uncooperative weather during the period and the home-improvem...

  6. Medtronic 4th-Quarter Net Falls 2.2% on Charges; Revenue Up

    Medtronic Inc.'s (MDT) fiscal fourth-quarter earnings fell 2.2% as restructuring charges masked the medical-devices company's improved revenue and margins.Medtronic'...

  7. AutoZone 3Q Net Up 6.8% on Revenue Growth

    AutoZone Inc.'s (AZO) fiscal third-quarter earnings rose 6.8% as the retailer's auto-parts and commercial sales rose, though same-store sales edged lower."While sale...

  8. Home Depot's Net Jumps 18% Amid Housing Recovery

    Home Depot Inc.'s (HD) fiscal first-quarter earnings jumped 18% as the home-improvement-products retailer reported stronger sales amid what Chief Executive Frank Bla...

  9. Merger Monday: Who’s Winning?

    Barron’s senior editor Jack Hough weighs in on Yahoo’s acquisition of Tumblr, and what it will mean for Yahoo.

  10. Campbell Net Up 2.3% as U.S. Soup Sales Improve

    Campbell Soup Co.'s (CPB) fiscal third-quarter earnings rose 2.3% as improved soup sales and last year's acquisition of Bolthouse Farms helped drive the packaged-foo...

  11. Campbell Earnings Rise On Ready-made Soup Sales

    Campbell Soup Co. reported its third-quarter profit rose to $181 million, or 57 cents a share, from $177 million, or 55 cents a share, a year earlier. Adjusted earni...

  12. Accenture to Buy Acquity for $316 Million

    Accenture PLC (ACN) has agreed to purchase Acquity Group Ltd. (AQ) for about $316 million in cash to expand the consulting company's range of digital marketing servi...

  1. Stocks Extend Losses

    Stifel Nicolaus portfolio manager Kevin Caron says the Fed has less power over the market than many think.

  2. TECH STOCKS: Salesforce.com, Google Hit Tech Stocks

    A sharp drop at Salesforce.com sparked a slump across the stocks of other corporate-software vendors on Friday and led the broader tech sector into the red late Frid...

  3. Fed Responsible for Investor Lock-Up?

    Hightower managing director Leo Kelly weighs in on the Fed's impact on the markets.

  4. U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH:

    Among the companies with shares expected to actively trade in Friday's session are Abercrombie & Fitch Co. (ANF), Infoblox Inc. (BLOX) and Pandora Media Inc. (P).Abe...

  5. Salesforce.com's quarterly results disappoint Wall Street

    Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower.Under Marc Benio...

  6. AT&T Imposes New Monthly Administrative Fee for Wireless Users

    AT&T Inc. (T) has added a new monthly administrative fee of 61 cents to the bills of all of its contract wireless lines as of May 1, a move that could bring in more ...

  7. Marathon Oil: Talks to Sell 20% Alberta Oil Sands Stake Fall Through

    Marathon Oil Corp. (MRO) said discussions to sell its 20% outside-operated stake in the Athabasca Oil Sands Project in Alberta, Canada, were unsuccessful and talks w...

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