TECH STOCKS: Nasdaq Ekes Gain As Dell, Marvell, Intel Rise

By Benjamin Pimentel

The tech sector edged higher led powered by upbeat reports from Dell Inc., Marvell Technology and Intel Corp.

Dell (DELL) rose 1.8% to close at $15.93 a day after the computing giant's quarterly results.

The chip sector had also helped fuel the rally as shares of Marvell Technology (MRVL) traded up 5% to close at $15.36 after the semiconductor maker late Thursday issued a sales forecast that exceeded Wall Street projections.

Intel Corp. (INTC) completed the tech triple play early Friday when the chip behemoth raised its third-quarter sales outlook citing stronger-than-expected demand. Intel added 4% to close at $20.25.

The upbeat reports from the two chipmakers also lifted other semiconductor makers as the Philadelphia Semiconductor Index (SOX) gained 2.4%, as other big microprocessor makers advanced, including Advanced Micro Devices (AMD), Nvidia Corp. (NVDA) and Texas Instruments (TXN).

The barrage of positive reports set the stage for a positive open for the Nasdaq Composite Index (RIXF).

The tech-heavy benchmark ended the session with a fractional gain, closing at 2,029. The Nasdaq also ended the week up 0.4%.

The sector also got a major boost from Aruba Networks (ARUN) shares of which soared 14.1% after the company reported quarterly results that beat expectations and its stock was upgraded to outperform from sector perform by RBC Capital Markets.

The Morgan Stanley High Tech 35 Index (MSH) was also up 0.6%.