Technology related stocks rose Friday afternoon while tax-maker Intuit stumbled after reporting a drop in second quarter profit.

The Nasdaq Composite Index rose 3.57 points, or 0.2 percent to 2303.35 by the end of the day.

Intuit fell 9.2 percent to close at $27.05. The decline came after the tax- and financial-information software company posted late Thursday a profit drop for the second quarter ended Jan. 31 and scaled back its full-year outlook

Hewlett-Packard gained 1.2 percent, or 57 cents to $47.40, while IBM also rose, gaining 1.1 percent, or $1.14 to $108.07. Software giant Microsoft shed 42 cents, or 1.5 percent to $27.68.

Chip stocks were mixed with Intel and AMD losing 2.4 percent and 3.5 percent respectively, but Nvidia gaining nearly 5 percent.

In the Internet segment, gained more than 3 percent, while shares of eBay rose more than 2 percent and Google advanced about 1 percent. Yahoo shares were flat.