Tech Daily: Chip stocks lead sector higher as market advances

Date: Thu, 30 Oct 2008 18:00:07 -0400

Tech Stocks: Chip stocks lead sector higher as market advances

Chip stocks power the tech sector after an industry group reports a
modest growth in semiconductor sales for September.

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DOJ allows Verizon, Alltel merger with conditions

The U.S. Justice Department says it's suing to block Verizon
Communications Inc.'s proposed, $28 billion acquisition of Alltel
Corp. unless Verizon agrees to divest assets in 22 states.

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EA losses grow as video game publisher announces layoff plans

Electronic Arts' net losses grew in the second fiscal quarter thanks
to a sharp rise in expenses while video-game sales also grew, driven
by demand for titles such as "Madden NFL" and "Spore." The game
publisher announced plans to lay off
about 6% of its workforce in a cost-cutting move.

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Netflix teams up with TiVo to stream content

Netflix and TiVo are collaborating on a service that would offer
subscribers the ability to have thousands of movies and TV episodes
instantly streamed from Netflix directly to their TVs.

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Sun Micro reports $1.68 billion loss as charges swell

Sun Microsystems Inc. reports a huge fiscal first-quarter loss as the
computer server and software maker sees sales fall more than 7% from a
year ago and records a goodwill impairment charge of $1.45 billion.

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Eastman Kodak posts higher profit, cuts outlook

Eastman Kodak Co. shares drop 7% after the camera and film giant pares
its outlook for the full year and says it almost tripled its
third-quarter profit from a year ago when hefty restructuring charges
cut into the bottom line.

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Symantec shares pounded after sober outlook

Shares of the security-software maker slide more than 17% a day after
the company reported strong results for the period ended in early
October but added an outlook that fell well short of expectations.

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Beatles label taps 'Rock Band' makers for new video game

The Beatles are taking a tentative step forward into the digital media
market with a new video game that will include the group's music and
will be published in partnership with MTV Networks and Harmonix –
makers of the popular "Rock Band" title.

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Motorola posts loss and delays spinoff of handset biz

Motorola Inc. on Thursday swung to a loss in the third quarter and
said it would delay the spin-off of its faltering wireless-phone
business beyond 2009.

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Cisco expected to post 7% quarterly revenue rise

While Cisco Systems Inc. has survived and even thrived in past
downturns, some analysts still worry about the current slowdown's
impact on the tech giant.

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Chip sales up slightly as analyst upgrades sector

Sales of semiconductors rose slightly in September boosted by strong
demand in the Asia-Pacific region, an industry group said Thursday.