Sector Update: Technology

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Technology stocks are higher today with shares of technology companies in the S&P 500 gaining almost 0.8%.

In company news, Yahoo ( YHOO ) is up about 0.5% to $26.68 a share, roughly in the middle of a 40-point range today amid reports the Internet portal company is looking at at least two possible acquisitions, according to the AllThingsD website.

One purported deal has YHOO snapping up address book app maker Xobni for between $30 mln to $40 mln. It also is considering a $50 million offer for automated video app maker Qwiki, according to the AllThingsD report, citing sources close to the company. Both deals are said to be in advanced stages although the report cautions either transaction eventually could be sidelined due to a variety of factors.

Representatives from Qwiki and Xobni ("inbox" backwards) were not immediately available for comment according to the articles. YHOO has been on an acquisition binge under new CEO Marissa Meyer, paying $1.1 bln for Tumblr a few weeks ago along another $40 mln to $50 mln for a string of smaller mobile app companies.

In other sector news,

(+) RMBS, (+1.3%) Narrows revenue guidance for the current quarter, now forecasting revenue in a range of $56 mln to $58 mln - raising the bottom of its prior guidance range by $3 mln. Analysts, on average, are looking for around $57 mln in Q2 revenue at the .

(-) CLWR, (-0.9%) Majority owner Sprint Nextel ( S ) files suit in Delaware Chancery Court against the company and Dish Networks ( DISH ) seeking to block DISH' $4.40 per share tender offer. Today also is the deadline for DISH to raise its $25.5-bln bid to trump a $3.40-per-share offer by Softbank for the CLWR shares it already doesn't own.



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

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This article appears in: Investing , Commodities

Referenced Stocks: DISH , S , YHOO

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