By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks were mostly higher Thursday, as shares of Apple Inc., Agilent Technologies and Groupon Inc. rallied in early trades.
Apple (AAPL) was up 2% ahead of the much-anticipated release of two new iPhones. The iPhone 5S and 5C models are set to go on sale on Friday.
Thursday is also the anniversary of Apple's record closing high of $702.10, which the stock hit after the release of the iPhone 5.
Agilent (A) was up 7% after the company announced that it would be split in two. One company, which will retain the Agilent name, will focus on life sciences, diagnostics and applied markets, while the other will be in the market for electronic-measurement products. Agilent was spun off from Hewlett-Packard Co. in 1999.
Groupon (GRPN) was ahead more than 6% after the online daily deals site was upgraded to buy from hold by Stifel. Analyst Jordan Rohan cited accelerating growth in the company's core business in the U.S. and signs of stability in key European markets.
AOL (AOL) climbed 1.5% after Topeka lifted its rating to buy from hold.
On the downside, shares of Oracle Corp. (ORCL) slipped a fraction a day after the software giant reported a disappointing outlook.
"Oracle's fiscal first quarter results were suggestive of some stabilization in the business, but the good news was dampened by soft guidance on a difficult comparison upcoming for the second quarter," Nomura Equity analyst Rick Sherlund said in a note.
Cisco Systems (CSCO) also shed 1% after Credit Suisse initiated coverage with an underperform rating.
Analyst Kulbinder Garcha argued that the rise of software-defined networking, in which software systems increasingly take on functions traditionally performed by hardware used in networking, will "ultimately threaten the oligopolistic structure and superior levels of profitability seen in switching and routing."
The Nasdaq Composite Index (RIXF) edged higher by 0.2% to 3,789. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) were each up a fraction.
-Benjamin Pimentel; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
09-19-13 1037ETCopyright (c) 2013 Dow Jones & Company, Inc.
|UPDATE: Apple, Agilent, Groupon rise; Oracle slips (2013/9/19)|
|UPDATE: Apple, Agilent, Groupon rise; Cisco slips (2013/9/19)|
|UPDATE: Agilent, Groupon rally; Oracle, Cisco slip (2013/9/19)|
|Agilent, Groupon rally; Oracle, Cisco slip (2013/9/19)|
|UPDATE: Apple edges higher, but Facebook slips (2013/10/28)|
|Apple edges higher, but Facebook slips (2013/10/28)|
|Apple, Facebook, Broadcom rise, Microsoft falls (2013/9/20)|
|UPDATE: Groupon rises but techs mostly in the red (2013/10/3)|
|Groupon rises but techs mostly in the red (2013/10/3)|
|UPDATE: Apple, Micron rally; Microsoft, LinkedIn slip ()|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.