NEW YORK (CNN/Money) -
Technology stocks ended mostly lower Wednesday, led by tech heavyweights such as Microsoft Corp., after posting gains in the past two sessions.
The Nasdaq composite index fell 6.41 points, or 0.3 percent, to close at 1,994.22. The tech-dominated index finished the first quarter with slim losses as the index ended last quarter at 2,003.37.
The Philadelphia Semiconductor index gained 9 cents at 487.12, while the American Stock Exchange Computer Hardware finished 1.77 points, or 1.1 percent, higher at 160.35.
Microsoft (MSFT: Research, Estimates) was the most heavily traded Nasdaq stock, down 23 cents, or nearly 1 percent, at $24.98.
Among other big-name tech companies, Intel (INTC: down $0.23 to $27.20, Research, Estimates) fell slightly, while Cisco Systems (CSCO: down $0.36 to $23.57, Research, Estimates) lost 1.5 percent.
Sun Microsystems (SUNW: down $0.07 to $4.17, Research, Estimates) and Oracle Corp. (ORCL: down $0.08 to $12.00, Research, Estimates) also ended Wednesday's session lower.
On Wednesday, Oracle defended its hostile $9.4 billion takeover bid of rival PeopleSoft Inc. (PSFT: up $0.18 to $18.49, Research, Estimates) at a closed European Commission antitrust hearing, people familiar with the meeting said. The software firm said Microsoft could conquer its market if the proposed merger is blocked.
The tech sector was also dragged lower by computer storage networking company QLogic Corp.
Shares of QLogic Corp. (QLGC: down $9.69 to $33.00, Research, Estimates) fell 22.7 percent to a new low for the year and pulled down other data storage-related stocks on fears of weaker demand after the company lowered its fourth-quarter forecast.
The reason for sales shortfall at QLogic, which makes computer storage equipment, is twofold, Tom Lahive, analyst with Enterprise Storage Group, a Boston-area industry research firm, told Reuters.
The mid-range server suppliers are selling fewer servers to large corporate customers, also known as the enterprise sector, he said, and QLogic also is losing market share to rivals Emulex Corp. (ELX: down $1.48 to $21.29, Research, Estimates) and Applied Micro Circuits Corp. (AMCC: down $0.09 to $5.71, Research, Estimates)
Shares of Sirius Satellite Radio (SIRI: up $0.09 to $3.40, Research, Estimates) were one of the few standouts on the Nasdaq, rising nearly 3 percent. Sirius was Nasdaq's second most actively traded stock.
Mamma.com Inc. (MAMA: up $2.97 to $13.68, Research, Estimates) stock also jumped nearly 28 percent. Shares of the Web search company is trading near its 52-week high of $15.80.
-- from staff and wire reports
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