TECH STOCKS: Yahoo, Fusion-io Spearhead Tech Activity

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- The tech sector tried to start the week off with gains on Monday, but was also dealing with declines from several Internet leaders, including Yahoo Inc.

Yahoo (YHOO) shares fell 5%, to $35.11, after Chinese Internet giant Alibaba reported a slowdown in revenue for the year. Alibaba is preparing to go public this year, and Yahoo owns a 24% share of the company.

Among other tech stocks in the red, declines came from Yelp Inc. (YELP), Facebook Inc. (FB), Google Inc. (GOOGL) and Hewlett-Packard Co. (HPQ).

Fusion-io Inc. (FIO) shares climbed 23% to $11.42 after SanDisk Corp. (SNDK) said it would acquire the flash-storage memory company for $1.2 billion. SanDisk shares rose 2.4% to $100.82.

Apple Inc. (AAPL) rose 1.3% to $92.51 a share. A profile of Apple Chief Executive Tim Cook in the New York Times suggested that Apple may be on track to release the so-called iWatch during its fiscal fourth quarter.

Gains also came from Twitter Inc. (TWTR), Microsoft Corp. (MSFT), Netflix Inc. (NFLX) and Micron Technology Inc. (MU).

The Nasdaq Composite Index (RIXF), which includes many leading tech stocks, rose 6 points to 4,316. The Philadelphia Semiconductor Index (SOX) was up by 0.5%.

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