Flat Friday for Stocks

The major stock market indexes didn’t move much on Friday, but a number of tech stocks made big moves.

RSA had its second straight 18% gain after EMC paid more than expected to acquire the security company. EMC shares lost 2.5% on the day, but that was more than 8% off their lows.

CSC plunged 13% after the board of directors said it is no longer looking to sell the company.

Research in Motion gained 6% after beating estimates, while Palm tumbled 14% on a warning.

Apple lost 3% on stock option irregularities.

Saba , Qiao Xing and Airspan took big hits on lower than expected results.

Onyx gained 5% on a takeover offer from CDC .

The broader market rested Friday after Thursday’s big rally on hopes that the Federal Reserve may soon be done raising interest rates. The Dow led the way lower despite an 8% gain in shares of GM .

The Nasdaq slipped 2 to 2172, the S&P 500 gave back 2 to 1270, and the Dow fell 40 to 11,150. Volume rose to 3.05 billion shares on the NYSE, and 2.6 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 59% on the NYSE, and 52% on the Nasdaq. New highs-new lows were 119-80 on the NYSE, and 132-58 on the Nasdaq.

Note: The Technical Analysis column will return July 5; in the meantime, yesterday’s levels remain in force.

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