Sector Update: Technology Shares Lower Pre-Market; Motorola Slips on Q2 Results

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Top Technology Stocks:

MSFT: -0.21%

AAPL: -0.18%

IBM: -0.34%

CSCO: -0.18%

GOOG: -0.41%

Technology shares were lower in pre-market trade Tuesday.

In technology stocks news, Motorola Solutions ( MSI ) shares fell in Tuesday's pre-market session after the provider of communication infrastructure, devices, software and services reported weaker-than-expected fiscal Q2 results and forecast Q3 results well below Street expectations, even as the company reiterated its full-year outlook and boosted its cost-reduction target.

And, Novadaq (NVDQ, NDQ.TO) Tuesday reported a profitable Q2, erasing last year's net loss, as a result of a 38% jump in revenues.

The developer of medical imaging and therapeutic devices said net income, excluding special items, was US$6.3 million, or US$0.11 per share, compared to a net loss of US$9.7 million, or US$0.21 per share, a year earlier. Analysts were targeting a net loss of US$0.07 per share, as compiled by Capital IQ.

Finally, Telefonica SA ( TEF ) has bid 6.7 billion euros to France's Vivendi for its Brazilian broadband unit GVT.

The offer consisted of an 11.96 billion Brazilian reals ($5.30 billion) payment in cash plus new shares to be issued in Telefonica Brazil worth 12% of the larger group. In an effort to cut the cost of the deal, TEF offered Vivendi the chance to acquire an 8.3% stake in Telecom Italia ( TI ).



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: MSI , TEF , TI

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