The Battle Road Tech Index™ fell 2.3 percent for the week ended January 15, 2010, closing at 1652. For the week, 17 of the 25 Index components decreased in value. Year-to-date, the index is down 1.7 percent, having started at a value of 1600.

The following companies were notable movers for the week:

Shares of Salesforce.com (NYSE: CRM, $68.63) fell 7.4 percent this week after the company announced a convertible debt offering. It will raise around $500 million at 0.75% despite being extremely well capitalized with $1 billion in cash and investments and strong cash generation. Investors fear that in addition to potential share dilution, it could signal dilutive acquisitions in the near future and slower organic growth.

Texas Instruments (NYSE: TXN, $24.50) fell 6.7 percent for this week, which was highlighted by competitor Intel’s (NASDAQ: INTC, $20.80) earnings announcement on Thursday after the market closed. In the face of high expectations for tech earnings in Q4, Intel reported top line growth of 28 percent and beat EPS expectations by $0.10. However, some have raised the concern that Q4 will be the peak for growth and margins for the industry, as capacity was well-utilized and demand was exceptionally strong. Falling chip margins in 2010 and uncertain inventory trends could hurt TXN and its peers, while bulls still contend that enterprise demand for IT systems will prop up the market for some time.

eBay (NASDAQ: EBAY, $22.47) was down 4.6 percent this week. The company’s share price is suffering from uncertainty over its performance during the holiday shopping season. There are questions surrounding whether the company was able to grow its Marketplace business in the face of competition from other online retailers like Amazon.com (NASDAQ: AMZN, $127.14). Strong growth is expected from the company’s Payments division, which includes the popular PayPal service. Expectations are high for eBay, as investors wait for the January 20 earnings report.