Research In Motion was a big loser in an otherwise positive day for tech stocks after it was the subject of a research note authored by a pessimistic financial analyst.
James Faucette of Pacific Crest Securities rained on RIM's parade with a research note Monday suggesting that October sales of RIM's BlackBerrys have been less-than-impressive, causing the stock to plunge $5.10, or 8.64 percent, to close at $53.91 on the Nasdaq stock exchange. The note also comes a day before Apple is expected to report iPhone sales of around 5 million units during the past quarter.
Motorola was up 8 percent on a report that its Android smartphone is getting closer to reality, and Time Warner was up 9 percent on news of pending layoffs at Yahoo, which could force the struggling search company into a deal with Time Warner's AOL division. Yahoo itself was down slightly, just 0.31 percent.
After the bell, Sun Microsystems warned that its first-quarter profit would be well below expectations, sending its stock down 6.6 percent in after-hours trading.
Most stocks on the CNET Tech Index were positive, with an overall increase of 4.13 percent on the day.
In the broader markets, the Nasdaq rose 58.74 points, or 3.43 percent, to 1,770.03. The Dow Jones Industrials rose 413.21 points, or 4.67 percent, to 9.265.43 while the S&P 500 rose 44.85 points, or 4.77 percent, to 985.40.