By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology stocks were mostly in the green on Wednesday, even as shares of Salesforce.com and eBay retreated.
Salesforce (CRM) shed 5% to close at $50.19 a day after the cloud-based business software company reported a wider loss. The San Francisco-based firm's results actually exceeded Wall Street expectations, but Nomura analyst Rick Sherlund said the report pointed to "slower organic growth."
"Management did not report any nine-figure, multiyear deals that investors have been eager to hear more about, but we believe there is the potential for better traction in these large deals as we go through the year," Sherlund told clients in a note.
Shares of eBay (EBAY) fell 0.2% to close at $51.88 after the e-commerce site warned users to change their passwords after a cyberattack compromised the company's database.
But the tech sector managed to stay in positive territory, with gains from Google Inc.(GOOGL), Netflix Inc. (NFLX) and Cisco Inc.(CSCO)
Google was up 1.7% to close at $549.70, while Netflix gained 5% to close at $390.60 and Cisco was ahead 1.5% to close at $24.48.
The Nasdaq Composite Index (RIXF) rose nearly 1% to close at 4,132. The Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor Index (SOX) were each up a fraction.
Other must-read stories from MarketWatch:
Google shoves Apple aside to become the world's most valuable brand
Microsoft bills new Surface tablet as laptop-killer, aiming at Apple
-Benjamin Pimentel; 415-439-6400; AskNewswires@dowjones.com
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05-21-14 1609ETCopyright (c) 2014 Dow Jones & Company, Inc.
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