A Big Week For Tech Earnings

Investors will be watching earnings reports from a number of tech bellwethers this week in hopes that the sector can finally end its six-month slide.

Microsoft , Amazon , eBay , EMC and Sun will be among the companies reporting second-quarter results this week.

EMC will report Tuesday morning, and analysts are expecting earnings of 8 cents a share, double the company’s year-ago results. Sun, Motorola and Texas Instruments will be among those reporting after the close.

Shares of Sun jumped 6.5% Monday on comments from Bernstein analysts who expect the company to post strong revenues. Sun is expected to lose 3 cents a share, down from a penny profit a year ago.

Microsoft climbed 1.7% on positive comments from Goldman Sachs and UBS analysts, who expect the software giant to beat estimates of 29-cent earnings and $9 billion in revenues. Microsoft reports Thursday after the close.

eBay is expected to earn 27 cents a share on revenues of $769 million when it releases results after the close on Wednesday, and analysts expect Amazon to earn 19 cents a share on revenues of $1.4 billion when it reports on Thursday.

Despite the positive chatter from analysts, stocks finished mixed Monday on disappointing guidance from Dow component 3M . Fed Chairman Alan Greenspan will testify before Congress on Tuesday and Wednesday.

The Nasdaq added 1 to 1883, the S&P 500 slipped half a point to 1100, and the Dow fell 45 to 10,094. Volume declined to 1.32 billion shares on the NYSE, and 1.78 billion on the Nasdaq. Advancers led 17-15 on the NYSE, but decliners led 18-12 on the Nasdaq. Downside volume was 56% on the NYSE, and 54% on the Nasdaq. New highs-new lows were 104-59 on the NYSE, and 32-202 on the Nasdaq.

After the close, Corning and J2 Global beat estimates, and Flextronics and JDA met estimates.

During the day, Lexmark fell 7% after missing revenue estimates.

palmOne jumped 10% on a deal with Verizon .

EDS rose 4% on an outsourcing deal with Bank of America .

Netflix dropped 12% on a downgrade.

M-Systems lost 6% despite beating estimates and raising guidance.

Blue Coat fell 12% on an acquisition.

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