TECH STOCKS: Tech Stocks Rise Despite Dell, Take-Two Losses

By Benjamin Pimentel

The tech sector ended up putting in a mixed performance Tuesday as it struggled against losses from the likes of Dell Inc. and Take-Two Interactive Inc. and awaited the latest quarterly results from Intel Corp.

Dell's (DELL) shares fell $1.05, or more than 8%, to close at $11.97 after the computer maker forecast a decline in second-quarter gross margins. The company also addressed analysts at a meeting near its Round Rock, Texas headquarters, but said little to move investors.

Take-Two (TTWO) fell 88 cents a share, or almost 10%, to $8.10 after the video-game publisher cut its forecast for the next two quarters and said it was delaying the release of "BioShock 2," which was its most highly anticipated new game title this year. Take-Two said it plans to give the developers more time and plans to release the title sometime in the first half of 2010.

Other declines came from Microsoft Corp. (MSFT), Hewlett-Packard Co. (HPQ), IBM Corp. (IBM), Apple Inc. (AAPL) and EMC Corp. (EMC).

Despite those losses, the tech sector got enough of a lift from chip companies as the Philadelphia Semiconductor Index (SOX) rose 1.6% on gains from Nvidia Corp. (NVDA) and Applied Materials Inc. (AMAT).

The Nasdaq Composite Index (RIXF) rose 6.5 points to close at 1,799, while the Morgan Stanley High Tech 35 Index (MSH) managed to edge into positive territory.

Intel Corp. (INTC) shares rose 34 cents, or 2%, to close at $16.83. The chip giant reported second-quarter results after the closing bell.

Gains also came from Internet bellwethers Google Inc. (GOOG), Amazon.com Inc. (AMZN) and eBay Inc. (EBAY).