[November 12, 2009] Silicon Valley stocks: Nasdaq rises, but Adobe falls after job-cut news [San Jose Mercury News, Calif.] Tweet (San Jose Mercury News (CA) Via Acquire Media NewsEdge) Nov. 11--The Dow, Nasdaq and most of Silicon Valley's biggest tech stocks by market value finished higher today. Apple, Google, Cisco Systems, Oracle, Intel, Gilead Sciences, eBay and Yahoo shares advanced. Hewlett-Packard and Adobe Systems shares fell. Adobe stock dropped a day after the San Jose maker of graphic design and Internet software said it would cut about 680 jobs, or about 9 percent of its work force. Adobe finished at $35.92, down 68 cents, or 1.9 percent. Sun Microsystems, the Santa Clara maker of Java software and server computers, was up 32 cents, or 3.9 percent, to $8.47. The European Commission's top antitrust official, Neelie Kroes, said she was optimistic Redwood City software maker Oracle could reach a deal that would allow its $7.4 billion buyout of Sun to proceed, according to a Bloomberg News report. The blue chip Dow Jones industrial average, which includes Cisco, HP and Intel, was up 44.29, or 0.4 percent, to 10,291.26. The tech-heavy Nasdaq composite index advanced 15.82, or 0.7 percent, to 2,166.90. The Standard & Poor's 500 index climbed 5.50, or 0.5 percent, to 1,098.51. Sigma Designs fell $1.20, or 9.7 percent, to $11.14. According to Bloomberg News, the Milpitas video and audio system-on-a-chip developer was downgraded to "sell" from "hold" by Collins Stewart. Smart Modular Technologies climbed 80 cents, or 20.1 percent, to $4.78 after the Newark maker of memory modules and other tech equipment reported earnings that exceeded analysts' expectations, according to a Bloomberg survey. To see more of the San Jose Mercury News, or to subscribe to the newspaper, go to http://www.mercurynews.com. Copyright (c) 2009, San Jose Mercury News, Calif. Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. [ Back To TMCnet.com's Homepage ]