Technology stocks soared on Tuesday amid a general market rally on Wall Street, but Twitter and Netflix fell sharply.
The SV 150 Index of the 150 largest stocks in Silicon Valley jumped 2 percent by 9 a.m. on Tuesday.
Shares of Los Gatos-based Netflix and San Francisco-based Twitter were headed the other way.
Netflix plunged about 3 percent and Twitter tumbled more than 2 percent.
Twitter s shares fell after Mike Gupta, a senior vice president at the company, was hired as chief financial officer at a startup called Docker. Gupta was the senior vice president of strategic investments at Twitter and ran Twitter Ventures, the company s venture capital arm.
Not much news on Netflix, although Netflix shares have fallen to a two-month low.
Netflix has been falling steadily while its rivals for streaming content, including Amazon and Hulu, have launched initiatives to chip away at Netflix s market share in an array of ways.
It was a good day for the hardware side of the business. Fremont-based semiconductor company Exar was up roughly 5 percent, and Fremont-based semiconductor equipment maker Mattson Technology was also up about 5 percent.
The five largest companies in Silicon Valley were all up on Tuesday.
Redwood City-based Oracle and Cupertino-based Apple were both up about 2 percent, Mountain View-based Google was rising 1 percent, and Menlo Park-based Facebook and Foster City-based Gilead Sciences were up less than 1 percent.
A Netflix sign appears in front of the company s Los Gatos headquarters. Photo by Getty Images
