Stocks finished mixed on Friday. Technology stocks fell after Intel Corp raised its second-quarter outlook by less than some analysts had hoped.
The Dow Jones Industrial Average rose 9.61, or 0.1 percent, to 10,512.63. The Standard & Poor’s 500 Index fell 2.82, or 0.2 percent, to 1,198.11. The Nasdaq Composite Index lost 13.91, or 0.7 percent, to 2,063.00.
Intel fell 2.6 percent to $26.98 despite raising June quarter revenue guidance late Thursday to a range of $9.1 billion to $9.3 billion from an earlier estimate of $8.6 billion to $9.2 billion. The stock had rallied more than 20 percent over the last month. Intel’s report dragged down the entire chip sector.
Among local companies, shares of Staar Surgical Co. gained 4 percent to $3.91 after the Monrovia-based medical device producer said it received approval from the Canadian Therapeutic Products Directorate to market its Starr Visian Toric lens product to ophthalmologists and other eye care professionals in Canada.
Cogent Inc. rose 2.6 percent to $23 after the South Pasadena-based fingerprint identification systems company said it received a $34 million contract to install its Automated Fingerprint Identification System for a national identification program in Morocco. The contract will consist of software and hardware, as well as services and maintenance which will extend beyond 2005.
On the down side, shares of Napster Inc. fell 4 percent to $4.13 after Microsoft Corp. said it would begin selling a music-subscription service later this year, competing with Apple Computer Inc. and L.A.-based Napster.
And Superior Industries International Inc. fell 1.7 percent to $23.06 after the Van Nuys-based motor vehicle parts manufacturer forecast a weaker-than-expected second-quarter profit, citing declining orders. The company said it expects net earnings of 15 cents to 17 cents a share, below analysts’ average forecast of 23 cents.