Priceline, Tibco Gain as Stocks Fall
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Priceline (NASDAQ: PCLN) and Tibco (NASDAQ: TIBX) provided the fireworks on Monday as the rest of the stock market paused to digest recent gains.
Tibco rose 13 percent on a German report that SAP (NYSE: SAP) could make a takeover bid for the company.
Priceline soared 14 percent after reporting a 17 percent jump in sales and much better than expected quarterly earnings.
But the rest of the market stalled following Friday's rally on a better than expected jobs report.
Microsoft (NASDAQ: MSFT) slipped on news that it will sell its Razorfish advertising holding.
Research in Motion (NASDAQ: RIMM) and Palm (NASDAQ: PALM) fell on worries about competition from Apple (NASDAQ: AAPL).
Dell (NASDAQ: DELL) rose 3 percent ahead of its earnings report later this month.
Best Buy (NYSE: BBY) fell 5 percent on a Goldman Sachs downgrade.
WebMediaBrands (NASDAQ: WEBM) gained on news that it will sell its Internet.com unit, including InternetNews.com, to privately held QuinStreet.
The Nasdaq shed 8 to 1992, the S&P 500 slipped 3 to 1007, and the Dow lost 32 to 9337. Volume fell to 5.41 billion shares on the NYSE, and 1.88 billion on the Nasdaq. Decliners led by a 20-17 margin on the NYSE, and 14-13 on the Nasdaq. Upside volume was 51 percent on the NYSE, and 52 percent on the Nasdaq. New highs-new lows were 98-37 on the NYSE, and 56-16 on the Nasdaq.