TECH STOCKS: Netflix, EMC Lead Tech Gainers

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Netflix Inc. rose ahead of the online video-streaming leader's second-quarter earnings report during what has been a mixed day for tech stocks so far.

Netflix (NFLX) rose 1.6% to $449.60 a share in advance of the company's quarterly results, due after the close of trading. Analysts surveyed by FactSet estimate that Netflix will earn $1.14 a share on $1.34 billion in revenue. Netflix's earnings will focus on the company's growth in streaming subscribers, and Netflix has estimated it will add 1.46 million new subscribers during the quarter.

Storage-technology company EMC Corp. (EMC) rose 3.7% to $27.96. Before the market opened, Elliott Management Corp. disclosed it has taken a $1 billion stake in EMC and will push to break up the Hopkinton, Mass.-based company.

Digital video camera company GoPro Inc. (GPRO) rose 2.5% to $42.45 a share. J.P. Morgan analyst Paul Coster initiated coverage of GoPro on Monday with an overweight ratings and $51-a-share price target. Coster said that while GoPro's stock has risen about 71% since the company went public, GoPro has more room to rise due to the market for first-time adopters of its cameras.

Chinese Internet search engine company Baidu Inc. (BIDU) rose 2.6% to $196.22. Morgan Stanley analyst Philip Wan raised his rating on Baidu to buy from neutral.

Apple Inc. (AAPL) was off by 32 cents a share at $94.10 in advance of its fiscal third-quarter results on Tuesday. Microsoft Corp. (MSFT), which also reports its fiscal fourth-quarter results after Tuesday's market close, shed 34 cents a share to trade at $44.34.

The Nasdaq Composite Index (RIXF) fell 24 points to 4,407.

More must-read tech news from MarketWatch:

New subscriber numbers key in Netflix's results

Analysts taking a cautious view of GoPro

IPhones, Beats and IBM on investors' minds with Apple

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