National Semi rises as tech sector retreats
By Benjamin Pimentel, MarketWatch
Last Update: 4:32 PM ET Mar 7, 2008
SAN FRANCISCO (MarketWatch) — Technology stocks closed lower Friday as National
Semiconductor Corp. shares jumped more than 11% after the company reported
third-quarter profit that beat Wall Street’s projections.
The Nasdaq Composite Index (COMP) closed down 8 points, or less than 1%, to
2,212.49, while the Morgan Stanley High Tech 35 Index (MSH) also fell less than
1%.
However, the Philadelphia Semiconductor Index ($SOX) advanced a fraction, boosted
by National Semiconductor (NSM), which advanced after the chipmaker reported net
income of $71.2 million, or 28 cents a share, beating analysts’ estimates.
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