By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks began the week on a
slightly negative note Monday, with Amazon.com Inc. and Dell Inc.
slipping into the red as other sector leaders tried to find ways of
getting into positive territory.
Amazon (AMZN) shed $2 a share to trade at $309.97. The
online-retailing giant said it would hire at least 5,000 new
full-time workers at its network of distribution centers across the
U.S. Amazon has been increasing its expenses to add to its
distribution network in an effort to keep up with growing demand.
During the company's second quarter, it reported a 22% increase in
revenue, to $15.7 billion.
Dell (DELL) shares slipped by 1%, to $12.80. On Monday, activist
investor Carl Icahn sent a letter to Dell shareholders rebutting
comments the PC maker's chief executive, Michael Dell, made about
voter turnout at the company's August special meeting, as part of
his attempt to take the PC giant private.
Losses began to take the lead in the day's trading action.
Angie's List Inc. (ANGI) continued to lose ground, and was down by
3% following a disappointing earnings report last week. Groupon
Inc. (GRPN) was off by almost 3% and Yelp Inc. (YELP) shares shed
2.4%.
Gainers included Facebook Inc. (FB), which rose 2.3% to $34.80,
as well as Apple Inc. (AAPL), Hewlett-Packard Co. (HPQ), Pandora
Media Inc. (P) and Qualcomm Inc. (QCOM).
The Nasdaq Composite Index (RIXF) was trimmed by 3 points to
3,609, while the Philadelphia Semiconductor Index (SOX) and the
Morgan Stanley High Tech 35 Index (MSH) also slipped into the
red.
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