NEW YORK (CNN/Money) -
Technology stocks finished mostly lower Monday as worries about rising interest rates tempered investors' enthusiasm over an unexpectedly early transfer of power in Iraq.
The tech-laced Nasdaq Composite index closed 5.65 points, or 0.3 percent, lower at 2,019.82, while the Philadelphia Semiconductor index lost 8.44 points, or 1.8 percent, to 470.47.
Tech giant Microsoft Corp. (MSFT: down $0.29 to $28.28, Research, Estimates) initially rose after the European Commission temporarily suspended sanctions on the world's No.1 software maker. But its shares shed their gains by early afternoon, falling 1 percent.
Shares of Sun Microsystems (SUNW: down $0.06 to $4.35, Research, Estimates) dipped after the software company said it plans to roll out major enhancements to its developer tools for the Java programming language and will contribute next-generation computing desktop technologies to the open-source community.
The moves, Sun said, are aimed at broadening the use of Java, a programming language used to create applications that can run on computers using different operating systems and microprocessors such as Sun's Ultrasparc and Intel Corp.-compatible chips.
Among other tech heavyweights, Cisco Systems (CSCO: down $0.13 to $23.30, Research, Estimates) stock shed about 0.5 percent, while JDS Uniphase (JDSU: down $0.01 to $3.80, Research, Estimates) edged down slightly.
Both Intel (INTC: down $0.40 to $27.38, Research, Estimates) and Oracle Corp. (ORCL: down $0.17 to $11.63, Research, Estimates) lost more than 1 percent in the session.
Yahoo! (YHOO: up $0.57 to $35.48, Research, Estimates) stock, however, traded higher after its subsidiary Overture Services Inc. launched a local version of its Web search advertising service, taking its battle with search rival Google Inc. into a new market.
The new service is an extension of the booming Web search advertising business, also known as paid search, that has been driving sales for advertisers and revenue growth at search providers such as Google and Yahoo!.
Other tech gainers included Taser International Inc. and TransAct Technologies.
Taser (TASR: up $0.85 to $42.94, Research, Estimates) said Monday it won an order for stun guns and accessories from the Dayton, Ohio, Police Department, building on the company's recent string of good news, and the stock rose 2 percent.
TransAct (TACT: up $1.96 to $31.12, Research, Estimates) stock jumped after its shares were added to the Russell 3000 index.
Novell Inc., which provides networking software and update services for Linux, said it plans to offer $450 million of convertible senior debentures and use the proceeds to buy back stock and to use for general corporate purposes, including acquisitions.
Novell said it expects to use $125 million of the net proceeds to repurchase, in negotiated transactions, shares of its common stock expected to be sold short by purchasers of the debt concurrently with the offering.
Shares of Novell (NOVL: down $0.57 to $8.22, Research, Estimates) ended Monday's session sharply lower.
-- Reuters contributed to the story
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