Technology Sector Sinks on Sun, NetSuite

The technology-heavy Nasdaq Composite Index fell 3.72 points, or 0.15 percent to end at 2,476.99.

Shares of Sun Microsystems Incplunged 22.6 percent, or $3.69 to $12.64 on Friday, a day after the company said it lost $34 million in its third fiscal quarter, and missed its own sales predictions.

Meanwhile, software maker Netsuite Inc posted a narrower first quarter loss of $2 million, compared to a loss of $9.3 million a year ago. The company also released a disappointing profit forecast for the rest of the year, on the low end of expectations. Shares fell 15.7 percent, or $3.50 to close at $18.81.

The Philadelphia Semiconductor index fell 0.11 percent, or 0.44 points to 399.85.

Yahoo Inc shares rose 6.9 percent, or $1.86 to $28.67 on Friday amid expectations that Microsoft Corp would raise its cash and stock bid for the Internet portal. Yahoo was also seen as being close to a deal with rival Google Inc to use its advertising on Yahoo websites.

Microsoft shares fell 0.66 percent, or 19 cents to $29.21. Google shares fell 1.99 percent, or $11.79 to $581.29.