By Benjamin Pimentel
Technology stocks edged down Monday morning as the broader
market retreated following Friday's rally.
The Nasdaq Composite Index (SOX) was behind 0.2% at 1,997, while
the Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia
Semiconductor Index (SOX) were both off slightly.
The Dow Jones Industrial Average (DJI) was down more than 10
points as investors apparently locked in profits after Friday's
rally.
Major tech players were in the red, including Amazon.com (AMZN)
and Advanced Micro Devices Inc. (AMD). Shares of two tech giants
were down more than 1%.
Also in the red were IBM Corp. (IBM), Cisco Systems (CSCO) and
Microsoft Corp. (MSFT).
On Sunday, Microsoft and Publicis Groupe announced that the
French communications company will acquire Razorfish, the software
giant's digital marketing agency, for about $530 million.
Meanwhile, Intel Corp. (INTC) was up more than 1%.