Tech Stocks: Nvidia, Netflix maintain tech gains at close

> SAN FRANCISCO (MarketWatch) — Gains from Nvidia Corp. and Netflix Inc. highlighted trading in tech stocks Friday and helped the sector edge upward in spite of early broad-market losses that were stoked by a huge trading loss at J.P. Morgan Chase & Co environmental-engineers-laws.

Nvidia  rose 79 cents a share, or more than 6%, to close at $13.21 after the graphics chip maker reported a fiscal first-quarter profit of $60.4 million, or 10 cents a share, compared with earnings of $135.2 million, or 22 cents a share, in the same period a year ago. Revenue dipped to $924.9 million from last-year’s first quarter of sales of $962 million.

However, excluding one-time items, Nvidia would have earned 16 cents a share. Analysts surveyed by FactSet Research had forecast Nvidia to earn 10 cents a share on $916 million in sales. Nvidia also forecast second-quarter sales ahead of Wall Street analysts’ forecasts. Read more about Nvidia's results.

With Nvidia in the lead, other chip stocks advanced. Gains came from Intel Corp. , Micron Technology Inc.  and Broadcom Corp. . The Philadelphia Semiconductor Index  rose almost 1%.

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Netflix shares rose almost $5, or nearly 7%, to close at $77.38. A filing with the Securities and Exchange Commission said Netflix director Jay Hoag acquired 200,000 shares of the online DVD-rental and video-streaming company. The SEC filing said Hoag’s company, Technology Crossover Ventures, acquired the shares on May 8 and 9.

The Nasdaq Composite Index  gave up almost all of its gain to close up by less than one point at 2,933. The broader market spent a good piece of the day digesting banking giant J.P. Morgan  reporting a $2 billion trading loss that the company said was the result of a trader called the “London Whale”. Read more aobut J.P. Morgan's losses.

Among other tech stocks, AVG Technologies  shares rose $1.30, or more than 10%, to close at $14.13. The Inter