TECH STOCKS: Tech Stocks Fall; Microsoft Among Decliners

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks started the week with broad losses Monday. Microsoft Corp. was among the decliners after the company said it would acquire the maker of the popular "Minecraft" game franchise for $2.5 billion.

Microsoft (MSFT) shares slipped by 45 cents to close at $46.24 after it confirmed reports that it will acquire Stockholm-based Mojand, the developer of "Minecraft." Mojang will become part of Microsoft Studios, which also includes the developers of such popular game titles as "Halo" and "Forza." Microsoft is expected to use Minecraft's popularity to increase demand for its mobile devices.

Security software company Symantec Corp. (SYMC) gave up 1.4% to close at $24.19 a share. RBC Capital Markets cut its rating on Symantec to sector perform from outperform Monday.

Other notable declines came from LinkedIn Corp.(LNKD), which fell 7.6% to close at $207.71; Seagate Technology (STX), which shed 3.6% to end the day at $58.84 a share, and Netflix Inc. (NFLX), down by 4% to close at $457.75a share. On Monday, Netflix launched its online video-streaming service in France.

Apple Inc. (AAPL) slipped into the red, giving up 3 cents a share to close at $101.63. On Friday, Apple said it had received a record number of pre-orders for its new iPhone 6 and iPhone 6 Plus smartphones.

The Nasdaq Composite Index (RIXF) fell almost 49 points, or 1%, to close at 4,518 and the Philadelphia Semiconductor Index (SOX) gave up 1.2%

(Read more about the day's market activity in Market Snapshot http://www.marketwatch.com/story/us-stocks-futures-nudge-lower-as-investors-wait-for-fed-2014-09-15.).

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