TECH STOCKS: Techs Eke Gain, But Chip Shares Fall

By Benjamin Pimentel

The tech sector bounced back late Thursday to eke a small gain, despite losses in shares of semiconductor companies.

The Philadelphia Semiconductor Index (SOX) lost 1.4%, as shares of Advanced Micro Devices (AMD) dropped about 1%. The chip giant geared up for its third-quarter report after the closing bell.

On Wednesday, the sector got a boost from Intel Corp.'s (INTC) upbeat third-quarter report, which propelled tech shares and the broader market to hefty gains.

Intel was down 0.8%, while other chip companies, including SanDisk Corp. (SNDK) and Marvell Technology (MRVL), saw shares tumble.

Xilinx Inc. (XLNX) fell 1.25% after posting a drop in quarterly profit on Wednesday.

The chip sector losses set the stage for broader declines earlier in the day. But the Nasdaq Composite Index (RIXF) later recovered on gains from Microsoft Corp. and Rambus Inc. The tech-heavy benchmark rose a tiny fraction to close higher at 2,173. The Nasdaq was up 1.6% for the week.

Microsoft (MSFT) added 2.9%, while Rambus (RMBS) gained 2%.

Two other tech heavyweights -- IBM Corp. and Google Inc. -- will report results Thursday. IBM (IBM) shares were down 0.3%, while Google (GOOG) was off 1%.

Other major tech players' shares declined, including Dell Inc. (DELL), Cisco Systems (CSCO) and Apple Inc. (AAPL).