Techs trade sideways, as Brocade shares soar

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SAN FRANCISCO (MarketWatch) - Technology stocks were hunting for direction Friday, as shares of Brocade Communications soared more than 12% after the networking gear company posted better-than-expected results. The Nasdaq Composite Index was up less than 1% to 2,832 at last check. The Morgan Stanley High Tech 35 Index was flat, while the Philadelphia Semiconductor Index was down 0.2%. The sector was weighed down by losses in shares of Microsoft Corp. and Hewlett-Packard .

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