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March 14, 2014, 4:27 p.m. EDT

Amazon, Yahoo edge up in weak tech session

Cloud-software company Castlight Health soars almost 150% in IPO

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By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) — Tech stocks ended up closing the week out with mixed results Friday, with mild gains from Amazon.com Inc. and Yahoo Inc. among the few sector bellwethers to rise and a huge first-day approval for newly public cloud-software company Castlight Health Inc.

Amazon /zigman2/quotes/210331248/composite AMZN +2.49%  rose $2.23 to close at $376.22 a share a day after the online retailer said it would raise the annual price of its Prime delivery service to $99 from $79. Industry analysts said they didn’t expect Amazon to lose many customers as a result of the price increase.

Other Internet-based companies that saw their shares rise include Overstock.com Inc. /zigman2/quotes/200022359/composite OSTK -2.24% , Groupon Inc. /zigman2/quotes/207356672/composite GRPN +5.23%  and Zulily Inc.

Cloud-based health care software provider Castlight Health Inc. /zigman2/quotes/201298689/composite CSLT +3.77%  surged almost 150% to close at $39.80, in its first day of trading as a public company. Castlight sold 11.1 million in its IPO after opening at $16 a share.

Yahoo Inc.  ended up rising 1% to close at $37.60 despite reports that the Chinese government has blocked the smartphone-payment processes of Alibaba due to potential risks to consumers. Yahoo owns a large share of the Chinese Internet giant.

Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO +1.59%  gave up 17 cents a share to close at $21.35. The networking-equipment giant said Thursday it is investigating allegations that some of its business activities in Russia may have violated U.S. laws on bribery of foreign officials.

The Nasdaq Composite Index /zigman2/quotes/210598361/realtime SOX +1.42%  rose shed 15 points to close at 4,257 and the Philadelphia Semiconductor Index /zigman2/quotes/210598361/realtime SOX +1.42%  also ended the day in negative territory.

More must-read news from MarketWatch:

Cisco probing bribery allegations

Zuckerberg to Obama: ‘I’m frustrated’

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,095.13
+75.34 +2.49%
Volume: 4.62M
Sept. 25, 2020 4:00p
P/E Ratio
118.97
Dividend Yield
N/A
Market Cap
$1550.32 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/200022359/composite
US : U.S.: Nasdaq
$ 72.87
-1.67 -2.24%
Volume: 4.38M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.12 billion
Rev. per Employee
$884,268
loading...
/zigman2/quotes/207356672/composite
US : U.S.: Nasdaq
$ 22.93
+1.14 +5.23%
Volume: 1.47M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$658.85 million
Rev. per Employee
$400,965
loading...
/zigman2/quotes/201298689/composite
US : U.S.: NYSE
$ 1.10
+0.04 +3.77%
Volume: 154,947
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$165.69 million
Rev. per Employee
$332,774
loading...
/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 38.45
+0.60 +1.59%
Volume: 22.97M
Sept. 25, 2020 4:00p
P/E Ratio
14.62
Dividend Yield
3.75%
Market Cap
$162.78 billion
Rev. per Employee
$684,933
loading...
/zigman2/quotes/210598361/realtime
US : Nasdaq
2,177.84
+30.41 +1.42%
Volume: 168,996
Sept. 25, 2020 5:16p
loading...
/zigman2/quotes/210598361/realtime
US : Nasdaq
2,177.84
+30.41 +1.42%
Volume: 168,996
Sept. 25, 2020 5:16p
loading...

Rex Crum is a reporter for MarketWatch in San Francisco. Follow him on Twitter @mktwcrum.

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