SAN FRANCISCO (MarketWatch) — Technology stocks were mostly in the red Wednesday as the federal government shutdown entered its second day, but the sector got a boost from some social media and chip stocks.
The Nasdaq Composite Index (COMP) shed 0.2% to 3,811, while the Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor Index (SOX) were each off a fraction.
Reuters BlackBerry slides after it says it expects even bigger restructuring charges. IBM Corp (IBM) was down 0.5%, while Cisco Systems (CSCO) was off 0.3% and Intel Corp. (INTC) gave up 0.2%.
BlackBerry (BBRY) shed nearly 5% after the company said it expects even bigger restructuring charges and disclosed even more serious facing challenges. The mobile tech company had announced a $4.7 billion deal to go private.
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On the upside, Apple Inc. (AAPL) , Facebook Inc. (FB) , LinkedIn Corp. (LNKD) and Yelp Inc. (YELP) were each up a fraction.
Micron Technology (MU) stood out in early trades, rising 1%. A Sterne Agee report on Tuesday pointed to signs of strong demand for mobile DRAM processors, playing down worries of a slowdown.
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Shares of Autodesk Inc. (ADSK) also rallied more than 3% after the design-software company announced Wednesday that it was acquiring Graitec's Advance Steel and Advance Concrete product lines.
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