Market close: VMWare reaches new price high

The Dow closed today down 84.85 points, a drop of .61 percent, and the S&P 500 closed down 2.68 points, or .17 percent. The Nasdaq rose 7.7 points, or .27 percent. In local stocks, Palo Alto computer virtualization firm VMware Inc. (VMW) hit a new high after analysts at UBS Securities LLC raised their price target on the stock, according to a report at CNNMoney.com.

VMware shares hit a new all-time high of $107.25 in afternoon trading, and closed at $107.04. Shares have traded between $51.50 and $101.89 since the company went public in August, according to the CNNMoney report.

Fremont semiconductor processing equipment firm Lam Research Corp. (LRCX) also saw its stock price rise. It closed at $55.01, a gain of 1.24 points.

Intel Corp. (INTC) saw the highest volume of trading among the Bay Area top 50 firms tracked by The Examiner, with 38.3 million shares traded. Intel shares closed slightly higher at $25.88.

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