SAN FRANCISCO — Goldman Sachs wrapped up its Technology and Internet Conference Thursday afternoon. About 1,700 investors, clients of the financial institution, registered for the event and attendance waxed and waned from a few hundred to 1,000 each day.
During the lunch session, analyst Sarah Friar asked a room filled with a few hundred investors, “How many people leave the conference feeling more positive about TMT [technology, media, telecom] stocks?”
One man raised his hand.
That’s a lot of work for one investor to feel better about tech stocks. Three days of sessions, close to a hundred companies sending executives to talk up their return on investment, hundreds of questions asked. Payoff: One investor felt better about buying technology stocks. Kind of.
From Tuesday when the market opened to Thursday’s market close, roughly the time frame of the tech conference, here is what happened in the financial market with the companies that presented here.
- Dow Jones Industrial Average index: Fell from 10,359.12 to 10,324.21, down 3.4 percent.
- Microsoft: Fell from $28.68 to $28.60, down 0.28 percent.
- Real Networks: Fell from $4.95 to $4.61, down 6.9 percent.
- Expedia: Rose from $22.29 to $22.39, up 0.44 percent.
- F5 Networks: Rose from $54.44 to $55.37, up 1.7 percent.
- InfoSpace share price: Fell from $10.34 to $10.38, down 0.39 percent.
- Apple share price: Rose from $200 to $202, up 1 percent.
- Google share price: Fell $543 to $526.43, down 3.1 percent.
- Salesforce.com share price: Fell from $68.73 to $67.96, down 1.0 percent.
- IAC share price: Rose from $21.78 to $22.48, up 3.1 percent.
Clearly these hedge fund managers were not e-mailing buy orders in the hallways.