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Tech Stocks Rebound in Unstable Market

Technology sector stocks rebounded in Tuesday, gaining 4.6 percent on the day following the record-setting sell off on Sept. 29. Of the 50 IT vendors tracked by Channel Insider, only three (Google, Nortel and Red Hat) continued to loose ground. Despite reports that the technology sector remains healthy, industry leaders, including Microsoft CEO Steve Ballmer, have said […]

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Channel Insider Staff

Sep 30, 2008

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Technology sector stocks rebounded in Tuesday, gaining 4.6 percent on the day following the record-setting sell off on Sept. 29. Of the 50 IT vendors tracked by Channel Insider, only three (Google, Nortel and Red Hat) continued to loose ground. Despite reports that the technology sector remains healthy, industry leaders, including Microsoft CEO Steve Ballmer, have said that no company or industry is immune to the economic crisis sweeping Wall Street and the financial services industry.

Technology companies may have recouped some of their losses, but they’ve taken an heavy pounding over the past year. Nearly all of the technology vendors stock values are down–some in double digits, from this time last year. The continued erosion is a reflection of the concern over eroding availabilty of credit, the slowing domestic and–potentially–international markets, and the anticipated slow down in tech spending by enterprises and SMBs.

Stock Indexes — September 30, 2008
	Open	Close	Difference
DJIA	10,365.45	10,850.26	4.68%
NASDAQ	1,983.73	2,082.33	4.97%
S&P 500	1,106.55	1,165.03	5.30%

Leading Technology Stocks — September 30, 2008
Company	Open	Close	Difference
Adobe Systems (ADBE)	36.18	39.47	9.18%
Adtran (ADTN)	19.10	19.49	2.36%
Alcatel-Lucent (ALU)	3.67	3.84	4.35%
AMD	4.29	5.25	22.38%
Apple (AAPL)	105.55	113.66	8.40%
Arrow Electronics (ARW)	26.19	26.22	0.11%
Avnet (AVT)	23.90	24.36	3.05%
BMC Software (BMC)	27.85	28.63	2.80%
CA	18.31	19.96	9.01%
Canon (CAJ)	36.81	37.75	2.55%
Check Point (CHKP)	21.54	22.74	5.52%
Cisco Systems (CSCO)	21.80	22.56	3.53%
Citrix Systems (CTSX)	23.74	25.26	7.03%
Data Domain (DDUP)	21.86	22.27	1.88%
Dell	15.86	16.48	6.94%
EMC	11.54	11.96	4.27%
FalconStor (FALC)	5.05	5.36	6.14%
Foundry Networks (FDRY)	17.45	18.21	4.36%
Google (GOOG)	385.00	341.43	-10.39%
HP (HPQ)	45.17	46.24	3.79%
IBM	114.46	116.96	2.18%
Ingram Micro (IM)	16.20	16.07	-0.80%
Intel (INTC)	12.25	18.74	8.51%
Juniper Networks (JNPR)	21.00	21.07	0.33%
Lexmark (LXK)	31.83	32.57	2.32%
McAfee (MFE)	33.43	33.96	1.59%
Microsoft (MFST)	25.10	26.69	6.72%
Motorola (MOT)	6.68	7.14	6.89%
NetApp (NTAP)	16.75	18.23	7.87%
Nokia (NOK)	17.60	18.65	5.97%
Nortel Networks (NT)	2.38	2.24	-5.08%
Novell (NOVL)	4.85	5.14	5.98%
Oracle (ORCL)	18.77	20.31	8.20%
Polycom (PLCM)	21.99	23.13	5.18%
Rackspace (RAX)	8.51	9.77	14.81%
Red Hat (RHT)	15.33	15.07	-1.70%
Research in Motion (RIMM)	62.50	68.30	10.64%
Salesforce.com (CRM)	44.76	48.40	8.13%
SAP	54.30	53.43	-1.60%
ScanSource (SCSC)	28.74	28.79	0.17%
Seagate Technology (STX)	11.74	12.12	3.24%
Sun Microsystems (JAVA)	6.90	7.60	12.59%
Sybase (SY)	29.84	30.62	2.61%
Symantec (SYMC)	18.62	19.58	5.16%
Synnex (SNX)	22.23	22.34	0.49%
Tech Data (TECD)	29.34	29.84	1.74%
VeriSign (VRSN)	23.80	26.08	9.58%
VMWare (VMW)	26.00	26.64	2.46%
Websense (WBSN)	21.23	22.35	5.28%
Xerox (XRX)	11.05	11.53	4.34%

Tech Stocks Rebound in Unstable Market

Channel Insider Staff

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