Diebold advances while technology sector tumbles
SAN FRANCISCO (MarketWatch) -- Technology stocks closed lower Monday even as shares of Diebold Inc. jumped 61% on news of an acquisition offer from United Technologies Inc.The Nasdaq Composite Index (COMP:
Nasdaq Composite Index
News, chart, profile, more
Last: 2,258.60-12.88-0.57%
5:17pm 03/03/2008
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
COMP 2,258.60, -12.88, -0.6%) lost more than 12 points to close at 2,258.6. The Morgan Stanley High Tech 35 Index (MSH:
MSH
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
MSH, , ) and the Philadelphia Semiconductor Index ($SOX:
$SOX
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
$SOX, , ) declined less than 1%.
Tech bellwether Google Inc. (GOOG:
GOOG
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
GOOG, , ) dropped more than 3%, while Apple Inc. (AAPL:
AAPL
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
AAPL, , ) lost more than 2%.
However, Diebold Inc. (DBD:
DBD
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
DBD, , ) advanced on news that United Technologies Corp. (UTX:
UTX
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
UTX, , ) has proposed to buy the maker of ATMs and voting machines for $40 a share. Diebold announced Tuesday that its board of directors has unanimously rejected the offer. But news of the merger proposal sent United Technologies shares dropping more than 1.5%. See full story.
Among other major computer hardware makers, IBM Corp. (IBM:
IBM
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
IBM, , ) and Dell Inc. (DELL:
DELL
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
DELL, , ) advanced fractionally, while Hewlett-Packard (HPQ:
HPQ
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
HPQ, , ) declined slightly.
Software giant Microsoft Corp. (MSFT:
MSFT
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
MSFT, , ) was down nearly 1%, while Oracle Corp. (ORCL:
ORCL
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
ORCL, , ) rose nearly 1%
In the Internet sector, eBay Inc. (EBAY:
EBAY
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
EBAY, , ) lost nearly 2% while Amazon.com (AMZN:
AMZN
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
AMZN, , ) fell more than 3%. Yahoo Inc. (YHOO:
YHOO
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
YHOO, , ) was down slightly.
In the chip segment, Intel Corp. (INTC:
INTC
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
INTC, , ) was up fractionally, while archrival Advanced Micro Devices Inc. (AMD:
AMD
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
AMD, , ) was off more than 6%. The chip equipment makers were also struggling with leader Applied Materials Inc. (AMAT:
AMAT
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
AMAT, , ) down more than 1%.
Among the networking gear makers, Cisco Systems Inc. (CSCO:
CSCO
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
CSCO, , ) was up a fraction, while Juniper Networks (JNPR:
JNPR
News, chart, profile, more
Last:
Delayed quote data
Add to portfolio
Analyst
Create alert
Insider
Discuss
Financials
Sponsored by:
JNPR, , ) was down more than 3%. End of Story
Benjamin Pimentel is a MarketWatch reporter based in San Francisco.