Tech Stocks: Tech stocks end day with broad, mild gains

SAN FRANCISCO (MarketWatch) � Tech stocks ended up putting in a mostly upbeat trading performance Friday following what was a shaky start caused by initial negative response to Juniper Networks Inc. and the networking equipment maker�s disappointing quarterly outlook.

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Juniper JNPR �failed to join in gainers, but its shares still pulled back from their low point, closing with a loss of 68 cents each, or 3%, at $21.69 a day after the company reported a weaker-than-expected quarterly forecast, citing soft telecom-sector demand. Read more on Juniper.

Auriga analyst Sandeep Shyamukha downgraded the stock to hold from buy, saying in a note, �While we continue to like Juniper�s positioning in routers, we would wait for more clarity on service-provider spending and/or new-product momentum before becoming more constructive on the stock.�

Riverbed Technology Inc. RVBD �shares also posted big losses, falling $5.47, or more than 18%, to $24.45 after the networking-equipment company forecast quarterly results that were below analysts� forecasts. Read more on Riverbed.

Losses also came from Hewlett-Packard Co. HPQ , IBM Corp. IBM and Microsoft Corp. MSFT �. �

However, the Nasdaq Composite Index COMP �managed to rise more than 11 points to close at 2,816. The Philadelphia Semiconductor Index SOX �and the Morgan Stanley High Tech 35 Index MSH �also ended the day in positive territory.

/quotes/zigman/74396/quotes/nls/klac KLAC 44.56, -1.27, -2.77%

Gainers included KLA-Tencor KLAC , which rose $2.07 a share, or more than 4%, to close at $52.33 after the chip-equipment maker�s results surpassed Wall Street�s projections.

Caris & Co. analyst Ben Pang also noted that the company�s guidance was �ahead of consensus, although order growth [is] facing a tough comparison.�

�We expect the consensus estimates will increase,� Pang said in a note. �KLA-Tencor �s ability to outgrow the industry should be a positive catalyst.� Read more on KLA-Tencor.

Shares of chip-equipment companies were up on Friday, including those of Lam Research LRCX �and Novellus Systems.NVLS .�

Gains also came from Apple Inc. AAPL , Dell Inc. DELL , Netflix Inc. NFLX �and Google Inc. GOOG .

Anticipation also began to grow over reports that Facebook Inc. could file as early as Feb. 1 for a public stock offering. Read more about speculation that Facebook could soon file to go public.