By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- GoPro Inc. and Yahoo Inc. stood
out in the tech sector Monday leading a broad slate of gains in
advance of a highly anticipated event in which Apple Inc. is
expected to show off the so-called iPhone 6.
GoPro (GPRO) shares rose more than 8% to close at $63.52 after
FBN Securities analyst Shebly Seyrafi initiated coverage of the
digital-camera maker with an outperform rating and $70-a-share
price target. With GoPro shipping just 3.8 million units in 2013,
"the company has ample runway ahead to drive strong growth for
several years," the analyst wrote.
Yahoo Inc. (YHOO) rose 5.6% to end the day at $41.81 a share as
Chinese Internet giant Alibaba began its IPO roadshow and set a
price range of $60 to $65 a share for its stock. Yahoo owns 23% of
Alibaba and plans on selling part of its stake in the company's
public offering. Also read: Is it too late to get rich with
Alibaba's Jack Ma?
Twitter Inc. (TWTR) rose 2.6% to close at $52 a share as the
social-networking company began testing buttons that will let
people buy products directly from within tweets.
Apple Inc. (AAPL) shed 61 cents a share to close at $98.36 one
day ahead of a company event to unveil the iPhone 6, and possibly
other new products and services.
The tech-heavy Nasdaq Composite Index (RIXF) rose 9 points to
4,592 and the Philadelphia Semiconductor Index (SOX) also edged
into positive territory.
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