US STOCKS-Wall St near flat; Apple off, but momentum shares rebound

viernes 9 de mayo de 2014 15:34 GYT

* Apple reportedly close to deal for Beats Electronics

* Momentum shares like Gilead, Netflix rise

* Dow up 0.1 pct; S&P 500 off 0.01 pct; Nasdaq up 0.3 pct (Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, May 9 (Reuters) - U.S. stocks barely budged on Friday, with Apple's slide offset by a rebound in high-growth momentum names.

Apple Inc was the biggest drag on both the benchmark S&P 500 index and the Nasdaq 100 on news that it is close to paying a record $3.2 billion for Beats Electronics, an expensive foray into music streaming and headphone gear, two people with knowledge of the matter said.

Some analysts questioned whether Beats, valued at $1 billion during its last funding round in September, was worth that price. Apple shares fell 0.6 percent to $584.65.

But momentum names mostly advanced after a volatile week. Shares of Gilead Sciences Inc gained 1 percent to $79.48. Netflix Inc shares rose 1.6 percent to $326.63 after the company increased the price of its most popular video streaming plan by $1 a month.

"We've seen days of investors trying to see if there's a bottom in these Nasdaq stocks," said Rick Meckler, president of hedge fund LibertyView Capital Management in Jersey City, New Jersey.   Continuación...