TECH STOCKS: LinkedIn, Expedia Rise After Earnings

By Rex Crum, MarketWatch

A few heavyweights rise, but techs are broadly lower

SAN FRANCISCO (MarketWatch) -- Tech stocks were broadly lower Friday, but LinkedIn Corp., Expedia Inc. and a few other sector heavyweights scored notable gains. GoPro Inc. slumped after the digital-camera maker's first quarterly report as a public company.

LinkedIn (LNKD) shares climbed more than 10% to $199.03 after the online professional-services company reported on Thursday a second-quarter loss of $934,000, or a penny a share, on revenue of $533.9 million. During the same period a year ago, LinkedIn earned $3.7 million, or 3 cents a share, on $363.7 million in sales.

However, excluding one-time items, LinkedIn earned 51 cents a share, which surpassed analysts estimates for a profit of 39 cents a share.

Expedia (EXPE) was also having a strong day, with its shares rising 6.5% to $84.46. On Thursday, the online travel agency reported better-than-expected second quarter results, with gross bookings rising 29% from a year ago due to strong gains in the number of hotel rooms and airline tickets booked during the quarter.

Among other leading tech stocks, gains came from Apple Inc. (AAPL), Microsoft Corp. (MSFT) and Facebook Inc. (FB).

GoPro (GPRO), however, was mired in the red, with its shares falling more than 10%, to $42.91.

The digital-camera maker, which just went public on June 26, reported on Thursday a loss of $19.8 million, or 24 cents a share, on $244.7 million, compared with a loss of $5.1 million, or 6 cents a share, on $177.1 million. Excluding one-time items, GoPro earned 8 cents a share, while analysts surveyed by FactSet had forecast earnings of 7 cents a share on $238 million in revenue.

The Nasdaq Composite Index (RIXF) fell 5 points to 4,363, while the Philadelphia Semiconductor Index (SOX) rose by 0.4%.

More must-reads from MarketWatch:

Best part of jobs report: rise in unemployment rate

Here's how close the jobs market is to normal

Four things to know about Mobileye

Subscribe to WSJ: http://online.wsj.com?mod=djnwires