SAN FRANCISCO (MarketWatch) -- Juniper Networks (JNPR) was in the spotlight Monday morning as shares of the networking-gear maker jumped nearly 10% on news of a restructuring plan by shareholder Elliott Management, which owns 6.2% of the company's common stock. The Elliott Management plan "can result in a stock price of $35 to $40" a share, the company said in a release. The tech sector also got a lift from share of Twitter Inc. (TWTR), which jumped nearly 4% and Hewlett Packard Co. (HPQ), which climbed more than 3%. But the group was weighed down by losses in shares of Microsoft Corp. (MSFT) and IBM Corp. (IBM). Shares of Groupon Inc. (GRPN) were down more than 2% on news that the company has acquired ideeli, an online flash-fashion deal retailer, for $43 million. The Nasdaq Composite Index (RIXF) slipped 0.1% to 4,169. The Morgan Stanley High Tech 35 Index (MSH) was up 0.5%, while the Philadelphia Semiconductor Index (SOX) shed 0.1%.
-Benjamin Pimentel; 415-439-6400; AskNewswires@dowjones.com
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01-13-14 0959ETCopyright (c) 2014 Dow Jones & Company, Inc.
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