By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks added to the
prior-day's gains Wednesday, as Internet sector leaders such as
Facebook Inc. and Pandora Media Inc. rose in the wake of an upbeat
opportunity assessment from J.P. Morgan analyst Doug Anmuth.
In a research note, Anmuth said there are "attractive
opportunities" among Internet stocks after a recent selloff in the
sector that shaved almost 20% off of Facebook's (FB) shares and
nearly 30% off of Pandora (P) since those stocks hit year-to-date
highs in early March.
On Wednesday, Facebook was up by more than 3%, at $60.09 and
Pandora rose 2.6% to $29 a share.
Among other Internet stocks, gains came from online travel
agency Priceline.com Inc. (PCLN), Yahoo Inc. (YHOO), eBay Inc.
(EBAY) and LinkedIn Corp. (LNKD).
Tech bellwethers were also having generally having a good day,
as Apple Inc. (AAPL), Microsoft Corp. (MSFT), Oracle Corp. (ORCL)
and IBM Corp. (IBM) also rose.
The Nasdaq Composite Index (RIXF) rose 23 points to 4,136 and
the Philadelphia Semiconductor Index (SOX) also edged into positive
territory.
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