TECH STOCKS: Groupon, TiVo Gain As Techs Advance

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks added to their gains in afternoon trading Wednesday, with Groupon Inc. and TiVo Inc. rising among the advancers as the tech sector tried to shake off big losses that dragged on the overall market in the prior trading session.

Groupon (GRPN) rose more than 2% to $10.23. Chief Executive Eric Lefkofsky told The Wall Street Journal that the online daily deal and e-commerce company is planning to roll out a network of warehouses across North America to support its growing Groupon Goods business. The move is seen as putting Groupon in more competition with the likes of Amazon.com Inc. and Overstock.com Inc.

Amazon (AMZN) shares rose $1.28, to $282.37, while Overstock (OSTK) rose by 1% to $29.08 a share.

TiVo (TIVO) climbed by 4.5%, to $11.47, after the TV set-top box on company on Tuesday reported a fiscal second-quarter profit that was boosted by gains from royalty and settlement payments from Cisco Systems Inc. (CSCO) and Motorola.

Apple Inc. (AAPL) rose by 1%, to $493.31 a share as reports increased about the company preparing to offer a new trade-in program on used iPhones next month.

Gains also came from Hewlett-Packard Co. (HPQ), Microsoft Corp. (MSFT), Netflix Inc. (NFLX) and Facebook Inc. (FB).

The Nasdaq Composite Index (RIXF) rose more than 24 points to 3,602 after giving up almost 80 points on Tuesday. The Philadelphia Semiconductor Index (SOX) was up by 1.4%.

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