By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- After several days of losses and
general malaise, much of the tech sector came to life Tuesday and
put in an overall solid performance behind gains from the likes of
Pandora Media Inc., eBay Inc. and Netflix Inc.
Internet radio leader Pandora(P) closed with a gain of almost
5%, while eBay (EBAY) climbed 3.5% and Netflix (NFLX) ended the day
up by 3.2%.
The Nasdaq Composite Index (RIXF) also came back from a round of
losses to rise 33 points to close at 4,112. The tech-heavy market
gauge finally found some stability after losing almost 5% over the
prior three trading sessions.
The tech sector generally mirrored the movement of the broader
market, which also fluctuated earlier before finding some positive
momentum as the day went on. Investors' concerns were tested after
a new report from the International Monetary Fund said economic
shockwaves in emerging markets could end up negatively impacting
several Western economies.
Among other tech stocks, Amazon.com Inc. (AMZN) rose almost 3%
to $326.86 after the company cited new market data that said its
Prime Instant Video service usage tripled from a year ago, and that
it surpassed both Hulu and Apple Inc. (AAPL) in streaming video
use.
Yelp Inc. (YELP) shares rose nearly 2% to $67.25 after SunTrust
Robinson Humphrey analyst Robert Peck raised his rating on the
online consumer review and information company to buy from neutral,
saying in a research note that Yelp's stock price valuation is more
supportive following a 33% decline in the past month.
More tech news from MarketWatch:
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