Sector Update: Tech

By Staff,

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Technology stocks were moderately higher shortly before today's early closing bell with shares of technology companies in the S&P 500 gaining 0.4%.

In company news, Cree Inc ( CREE ) shares rose Thursday after analysts at Oppenheimer today raised their investment rating for the maker LED bulbs to Outperform from Market Perform, maintaining a $59 price target.

CREE shares were ahead about 5.3% at $52.95 each in recent trade, earlier advancing to a session high of $53.33 a share. The stock has a 52-week range of $44.52 to $76.00 a share, falling about 21% over the past 12 months.

In other sector news,

(+) ATNY, (+5.7%) Receives new order to supply high-power amplifier systems for the Department of Defense, the initial part of a multi-million dollar program. First production delivery is expected in May 2015.

(-) SNX, (-5.8%) Projected Q3 EPS of $1.45 to $1.50 trails estimates by at least $0.03 per share but revenue guidance tops Street view by at least $20 mln. Q2 net income of $1.52 per share on $3.45 bln in revenue both top Capital IQ consensus.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CREE

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