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March 3, 2010, 4:37 p.m. EST

Novell gains highlight mixed day for tech stocks

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By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Technology stocks ended Wednesday on a mixed note as much of the sector gave up early gains. But Novell's shares climbed 28% after a hedge fund offered to buy the business-software maker for $1 billion.

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Novell rose $1.33 a share to $6.08 in reaction to the late-Tuesday offer from Elliott Associates of New York. The deal values Novell at $5.75 a share. Elliott currently owns 8.5% of Novell's stock. Read more on Novell.

With Novell in the lead, gains also came from Apple Inc. /zigman2/quotes/202934861/composite AAPL +0.48% , Dell Inc. /zigman2/quotes/203822527/composite DELL +0.68% , Cisco Systems Inc. /zigman2/quotes/209509471/composite CSCO +0.47% and Google Inc. shares /zigman2/quotes/205453964/composite GOOG +1.23% .

The Nasdaq Composite Index ended the day down by a fraction at 2,280, while the Philadelphia Semiconductor Index /zigman2/quotes/210598361/realtime SOX +1.20% shed almost 1%. The Morgan Stanley High Tech 35 Index and the Nasdaq Computer Index /zigman2/quotes/210598343/realtime IXCO +0.98% also declined.

One notable decliner was online DVD rental company Netflix Inc. /zigman2/quotes/202353025/composite NFLX +1.31% , which shed $1.43 a share, or 2%, to close at $67.55.

Before the market opened, Aaron Kessler of Kaufman Bros. cut his rating on Netflix to hold from buy, and Susquehanna analyst Marianne Wolk lowered her rating to neutral from positive. Both cited valuation concerns, saying Netflix's shares had reached their recent price targets.

Other losses came from Seagate Technology /zigman2/quotes/201824240/composite STX +0.24% , Hewlett-Packard Co. /zigman2/quotes/203461582/composite HPQ +0.09% , Oracle Corp. /zigman2/quotes/202180826/composite ORCL +0.61% , IBM Corp. /zigman2/quotes/203856914/composite IBM +0.12% and Yahoo Inc. .

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 116.59
+0.56 +0.48%
Volume: 46.69M
Nov. 27, 2020 1:00p
P/E Ratio
35.69
Dividend Yield
0.70%
Market Cap
$1972.72 billion
Rev. per Employee
$1.86M
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/zigman2/quotes/203822527/composite
US : U.S.: NYSE
$ 69.82
+0.47 +0.68%
Volume: 1.41M
Nov. 27, 2020 5:00p
P/E Ratio
22.01
Dividend Yield
N/A
Market Cap
$51.78 billion
Rev. per Employee
$557,139
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/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 42.70
+0.20 +0.47%
Volume: 10.77M
Nov. 27, 2020 1:00p
P/E Ratio
17.34
Dividend Yield
3.37%
Market Cap
$179.58 billion
Rev. per Employee
$636,155
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/zigman2/quotes/205453964/composite
US : U.S.: Nasdaq
$ 1,793.19
+21.76 +1.23%
Volume: 884,916
Nov. 27, 2020 1:00p
P/E Ratio
35.81
Dividend Yield
N/A
Market Cap
$1195.71 billion
Rev. per Employee
$1.36M
loading...
/zigman2/quotes/210598361/realtime
US : Nasdaq
2,631.56
+31.32 +1.20%
Volume: 82,066
Nov. 27, 2020 4:12p
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/zigman2/quotes/210598343/realtime
US : U.S.: Nasdaq
8,336.24
+80.53 +0.98%
Volume: 427,136
Nov. 27, 2020 4:14p
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 491.36
+6.36 +1.31%
Volume: 2.81M
Nov. 27, 2020 1:00p
P/E Ratio
79.38
Dividend Yield
N/A
Market Cap
$214.27 billion
Rev. per Employee
$2.34M
loading...
/zigman2/quotes/201824240/composite
US : U.S.: Nasdaq
$ 58.48
+0.14 +0.24%
Volume: 1.46M
Nov. 27, 2020 1:00p
P/E Ratio
14.93
Dividend Yield
4.58%
Market Cap
$14.99 billion
Rev. per Employee
$250,214
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/zigman2/quotes/203461582/composite
US : U.S.: NYSE
$ 22.27
+0.02 +0.09%
Volume: 6.69M
Nov. 27, 2020 5:00p
P/E Ratio
11.13
Dividend Yield
3.16%
Market Cap
$30.56 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202180826/composite
US : U.S.: NYSE
$ 57.76
+0.35 +0.61%
Volume: 5.63M
Nov. 27, 2020 5:00p
P/E Ratio
18.11
Dividend Yield
1.66%
Market Cap
$172.86 billion
Rev. per Employee
$289,393
loading...
/zigman2/quotes/203856914/composite
US : U.S.: NYSE
$ 124.35
+0.15 +0.12%
Volume: 2.09M
Nov. 27, 2020 5:00p
P/E Ratio
14.08
Dividend Yield
5.24%
Market Cap
$110.67 billion
Rev. per Employee
$201,008
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Rex Crum is a reporter for MarketWatch in San Francisco.

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