Tech Stocks: Yahoo-Microsoft sniping leads weak day for tech stocks

Yahoo, Microsoft join broad-sector drop SAN FRANCISCO (MarketWatch) -- Technology stocks were largely in the red Wednesday as most of the sector's leaders gave back the broad gains scored in the prior session. Decliners in early morning action included IBM Corp. shares gave up 21 cents to trade at $25.65, and Yahoo Inc. fell by 29 cents to $24.35. In an interview with the Wall Street Journal, Yahoo Chief Executive Jerry Yang accused Microsoft and activist investor Carl Icahn of working to destabilize Yahoo ahead of the company's shareholders' meeting, set for Aug. 1. Cisco Systems Inc. shares gave up 59 cents, or 2.6%, to fall to $22.29. Before the market opened, RBC Capital Markets analyst Mark Sue cut his price target on Cisco's stock to $27 a share from $29, saying that the networking-equipment maker expects technology... [read full story]