TECH STOCKS: Pandora, EBay, Netflix Pace Tech Gains

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- After several days of losses and general malaise, much of the tech sector came to life Tuesday and put in an overall solid performance behind gains from the likes of Pandora Media Inc., eBay Inc. and Netflix Inc.

Internet radio leader Pandora(P) closed with a gain of almost 5%, while eBay (EBAY) climbed 3.5% and Netflix (NFLX) ended the day up by 3.2%.

The Nasdaq Composite Index (RIXF) also came back from a round of losses to rise 33 points to close at 4,112. The tech-heavy market gauge finally found some stability after losing almost 5% over the prior three trading sessions.

The tech sector generally mirrored the movement of the broader market, which also fluctuated earlier before finding some positive momentum as the day went on. Investors' concerns were tested after a new report from the International Monetary Fund said economic shockwaves in emerging markets could end up negatively impacting several Western economies.

Among other tech stocks, Amazon.com Inc. (AMZN) rose almost 3% to $326.86 after the company cited new market data that said its Prime Instant Video service usage tripled from a year ago, and that it surpassed both Hulu and Apple Inc. (AAPL) in streaming video use.

Yelp Inc. (YELP) shares rose nearly 2% to $67.25 after SunTrust Robinson Humphrey analyst Robert Peck raised his rating on the online consumer review and information company to buy from neutral, saying in a research note that Yelp's stock price valuation is more supportive following a 33% decline in the past month.

More tech news from MarketWatch:

Why Amazon, Apple won't shake up TV

When to refuse LinkedIn connection requests

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