TECH STOCKS: Weak Tech Action Ahead Of Cisco's Earnings

By Rex Crum, MarketWatch Networking-equipment leader's results to gauge corporate tech spending

SAN FRANCISCO (MarketWatch) -- Tech stocks were mixed in early trading Wednesday, with Cisco Systems Inc. among the decliners ahead of the networking-equipment leader's quarterly earnings results.

Cisco (CSCO) shed 6 cents a share to slip to $25.10 ahead of its fiscal first-quarter results, due after the close of trading. Analysts surveyed by FactSet estimate Cisco will earn 53 cents a share on $12.17 billion in revenue for the quarter ended in October.

Along with Cisco, declines came from tech-sector leaders such as IBM Corp. (IBM), Microsoft Corp. (MSFT), Netflix Inc. (NFLX) and Google Inc. (GOOGL).

The tech-heavy Nasdaq Composite Index (RIXF) was off by 11 points at 4,649, while the Philadelphia Semiconductor Index (SOX) gave up 0.6%.

Mild gains came from Yahoo Inc. (YHOO), which rose almost 1% to $49.51 a share after saying late Tuesday it would acquire video-ad platform company Brightroll for $640 million

Advancers also included Apple Inc. (AAPL), Groupon Inc. (GRPN), Oracle Corp. (ORCL) and Twitter Inc. (TWTR).

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