By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) ? Tech stocks ended the week on a mixed note Friday, as declines from PC-related stocks pressured the tech sector following a revenue warning from semiconductor giant Intel Corp.
Intel CEO Paul Otellini shows an ultrabook laptop at the Consumer Electronics Show on Jan. 10, 2012.Also adding to investor sentiment was the latest jobs report. The figures, from the Labor Department, showed the U.S. economy added 96,000 nonfarm-related jobs in August, which was lower than estimated and below the 141,000 jobs added in July. Read more about the jobs report and data.
The Nasdaq Composite Index /quotes/zigman/123127 COMP +0.02% ?managed to eke up by less than 1 point to close at 3,136, while the Philadelphia Semiconductor Index /quotes/zigman/1468249 SOX -0.82% ?shed almost %.
Intel /quotes/zigman/20392/quotes/nls/intc INTC -3.61% ?shares gave up 3.6%, to close at $24.19 after the chipmaking giant lowered its third-quarter revenue forecast.
Intel said that it now expects third-quarter sales of $13.2 billion, ?plus or minus? $300 million. That would imply a range of $12.9 billion to $13.5 billion, which could be as much as $2 billion less than Intel?s earlier estimate for sales of $13.8 billion to $14.8 billion.
/quotes/zigman/20392/quotes/nls/intc INTC 24.19, -0.91, -3.61%In a statement, Intel blamed the lowered sales outlook on ?customers reducing inventory in the supply chain versus the normal growth in third-quarter inventory; softness in the enterprise PC market segment; and slowing emerging market demand.?
The outlook has also added to concerns that the upcoming release of Microsoft Corp.?s /quotes/zigman/20493/quotes/nls/msft MSFT -1.26% ?Windows 8 operating system might not lead to a great a PC refresh cycle as anticipated. Read more on Intel's warning.
Microsoft shares gave up 1.3%, and Hewlett-Packard Co. /quotes/zigman/229301/quotes/nls/hpq HPQ -0.97% ?ended the day down by almost 1% at $17.42.
Along with Intel, other chip stocks in the red included Nvdia Corp. /quotes/zigman/80597/quotes/nls/nvda NVDA -2.40% , which fell 2.4%; Micron Technology Inc. /quotes/zigman/75433/quotes/nls/mu MU -3.82% , down by almost 4%, and Advanced Micro Devices Inc. /quotes/zigman/216580/quotes/nls/amd AMD -5.74% , which fell 5.7%.?
Pandora /quotes/zigman/5419837/quotes/nls/p P -16.71% ?shares tumbled almost 17%, to close at $10.47 following a report in the Wall Street Journal that said Apple Inc. /quotes/zigman/68270/quotes/nls/aapl AAPL +0.62% ?was in discussions with the major music labels about launching its own streaming-radio service. Read Rex On Techs about the dangers of doing business with, or against, Apple.
Can Samsung go on without Apple?
As patent disputes continue, Apple shifts its chip orders for the new iPhone from Samsung to other companies.
Such a service would be a rival to Pandora, which depends on advertisers and subscribers for revenue for its personalized Internet radio service.
Audience Inc. /quotes/zigman/9801086/quotes/nls/adnc ADNC -63.41% ?shares were slammed, falling more then 63% to close at $6.90, after the company said late Thursday that Apple wouldn?t use Audience?s voice-processing chip technology in the next iteration of the iPhone. Several analysts subsequently cut their ratings on Audience?s stock.
Apple shares rose $4.17 to close at $680.44.
Google /quotes/zigman/93888/quotes/nls/goog GOOG +0.97% ?saw its shares cross the $700 mark on Friday morning for the first time since December 2007, rising 1% to close at $706.15.
The Web search giant has gained nearly 19% since its last quarterly earnings report on July 19, when the company showed better-than-expected earnings on improvements in its core advertising business. The past two weeks have also seen introductions of new handsets from firms such as Samsung and Motorola that use the company?s Android mobile operating system.
/quotes/zigman/123127
US : U.S.: Nasdaq
Volume: 0.00
Sept. 7, 2012 5:15p
/quotes/zigman/1468249 US : PHLX Ind Cur
Volume: 0.00
Sept. 7, 2012 5:04p
/quotes/zigman/20392/quotes/nls/intc US : U.S.: Nasdaq
Volume: 86.13M
Sept. 7, 2012 4:00p
Market Cap$125.55 billion
Rev. per Employee$544,725
/quotes/zigman/20493/quotes/nls/msft US : U.S.: Nasdaq
Volume: 42.54M
Sept. 7, 2012 4:00p
Market Cap$262.78 billion
Rev. per Employee$784,574
/quotes/zigman/229301/quotes/nls/hpq US : U.S.: NYSE
Volume: 16.60M
Sept. 7, 2012 4:00p
Rev. per Employee$350,112
/quotes/zigman/80597/quotes/nls/nvda US : U.S.: Nasdaq
Volume: 19.52M
Sept. 7, 2012 4:00p
Rev. per Employee$559,165
/quotes/zigman/75433/quotes/nls/mu US : U.S.: Nasdaq
Volume: 63.79M
Sept. 7, 2012 4:00p
Rev. per Employee$322,261
/quotes/zigman/216580/quotes/nls/amd US : U.S.: NYSE
Volume: 30.91M
Sept. 7, 2012 4:00p
Rev. per Employee$574,685
/quotes/zigman/5419837/quotes/nls/p US : U.S.: NYSE
Volume: 24.01M
Sept. 7, 2012 4:00p
Rev. per Employee$638,462
/quotes/zigman/68270/quotes/nls/aapl US : U.S.: Nasdaq
Volume: 11.71M
Sept. 7, 2012 4:00p
Market Cap$633.94 billion
/quotes/zigman/9801086/quotes/nls/adnc US : U.S.: Nasdaq
Volume: 8.96M
Sept. 7, 2012 4:00p
Market Cap$383.56 million
Rev. per Employee$527,782
/quotes/zigman/93888/quotes/nls/goog US : U.S.: Nasdaq
Volume: 3.22M
Sept. 7, 2012 4:00p
Market Cap$230.21 billion
Rex Crum is a reporter for MarketWatch in San Francisco.
Source: http://feeds.marketwatch.com/~r/marketwatch/software/~3/L0jyfN6FiEg/story.asp
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